France Inflation Weakest Since 2017

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France inflation slowed to the lowest in more than two years in March largely due to the sharp downturn in energy prices, but the pace of overall inflation was slightly higher than the initial estimate, final data from the statistical office Insee showed Wednesday.

Consumer prices advanced at a slower pace of 0.7 percent year-on-year in March after rising 1.4 percent in February. This was slightly above the flash estimate of 0.6 percent.

A similar lower rate was last seen in July 2017.

On a monthly basis, consumer prices edged up 0.1 percent after remaining unchanged in February. The initial estimate showed a nil growth in March.

At the same time, EU harmonized inflation halved to 0.8 percent from 1.6 percent a month ago. This was the lowest since July 2017. The initial estimate showed an annual rate of 0.7 percent for March.

On a monthly basis, the harmonized index of consumer prices climbed 0.1 percent after staying flat in February. According to preliminary estimate, prices had remained unchanged in March.


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