Inflation in France rose to 2.9% in January

The French statistical office published preliminary data on the consumer prices dynamic. In January, it rose by 2.9% compared to prices that were recorded in the same month in 2021. In December, inflation in the country was at the level of 2.8%. Monthly, prices rose by 0.3%. Analysts surveyed assumed that in annual terms, January inflation will be 2.5%, and compared with December, prices will decrease by 0.3%. The indicators were calculated according to French standards. The Statistical Administration report says that the main reason for the inflation acceleration was the rise in prices for products and energy. Grocery products grew in price by 1.5% in annual terms. Energy prices jumped 19.7% in January. Manufactured goods and services rose in price by 0.6% and 2% respectively. The calculation of inflation according to the standards of the European Union indicates its slowdown in January to 3.3% from 3.4% in December. Analysts had forecast a 3% rise in prices. The final estimate of January inflation in France will be published at the end of February.

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Arseny Kudrin

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