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French inflation falls on year, rises on month

  • As expected, French CPI slipped to +1% on year in August from +1.2% in July.
  • On month, inflation +0.5%, also as expected, vs -0.3%.
  • CPI excluding tobacco +0.4% vs -0.3% in July.
  • The largest contributions to the monthly rise in CPI were seasonal increases in manufactured product prices and some tourism services, as well a rebound in energy prices. A seasonal fall in fresh-food prices offset these factors.
  • CAC 40 (EWQ) +0.1%. (PR)
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