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Retail

French Consumer Prices To Rise By 0.2% Year-On-Year In August: INSEE

France’s consumer price index (CPI) is expected to rise by 0.2% in August 2020, after a 0.8% growth in the previous month, according to provisional estimates from INSEE.

The decline in inflation is a result of a downturn in manufactured products due to the postponement of summer sales as well as a slowdown in food prices.

Manufactured product prices are to see a 0.2% year-on-year decline in August, estimates showed.

The CPI for fresh food is expected to rise by 1.3% year-on-year in August, down from a 2.2% year-on-year growth in July 2020.

For other food products, the CPI is likely to rise by 0.7% year-on-year in this period, INSEE data showed.

Other Prices

Energy prices are expected to drop by 7.1% year-on-year in August, slightly lower than the 7.4% decline registered last month.

The price of services and tobacco is projected to rise by 13.8% year-on-year - the same rate as in July 2020, data showed.

The harmonised Index of Consumer Prices is likely to slow down in August, with a growth of 0.2% after rising 0.9% in July.

Over one month, it should edge down by 0.1%, after increasing by 0.4% in the previous month, the report said.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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