French Inflation Revised Higher To 1.7%

(RTTNews) - France's consumer price inflation increased more than estimated in January to the highest level in five months amid higher costs for energy and services, the latest data from the statistical office INSEE showed on Tuesday.

Consumer price inflation climbed to 1.7 percent in January from 1.3 percent in December. The latest inflation rate was revised up from 1.4 percent in the flash report, which was published on January 31.

Meanwhile, harmonized inflation held steady at 1.8 percent, as estimated. Moreover, inflation remained below the European Central Bank's target of 2 percent.

The annual price growth in energy quickened to 2.7 percent from 1.2 percent. Inflation based on services also rose to 2.5 percent from 2.2 percent. The rise in inflation was also impacted by a 0.2 percent rebound in prices for manufactured goods.

On a monthly basis, consumer prices rose at a stable rate of 0.2 percent, revised from a 0.1 percent fall estimated initially. Meanwhile, the harmonized index of consumer prices dropped 0.2 percent after a 0.2 percent gain in the previous month.