Inflation continued to accelerate in France in July. Over one year, the rise in consumer prices reached 6.1% confirmed Friday INSEE in its final estimate. This is the highest level since 1985. Energy prices continued to weigh on inflation figures, but less strongly than in recent months. The acceleration is mainly linked to the prices of services, food and manufactured goods.
Energy prices have soared in recent months as Russia’s invasion of Ukraine sparked a fever in global markets. Oil prices have, however, fallen back a little in recent weeks due in particular to fears about economic activity in China. As a result, energy prices rose 28.5% year on year in July after rising 33.1% the previous month.
Services prices for their part increased by 3.9% in July compared to the same period of 2021, against 3.3% the previous month, and food prices by 6.8% after 5.8 % last month. Over one month, consumer prices rose by 0.3%, after +0.7% in June. The harmonized consumer price index, which serves as the basis for European comparisons, rose by 6.8% over one year after 6.5% in June.