French inflation confirmed at 2.4% in March

By Thomson Reuters Apr 12, 2024 | 2:06 AM

(Reuters) – Consumer prices in France, rose 2.4% year on year in March, statistics office INSEE said on Friday, confirming preliminary data.

Inflation in March was caused mainly by a seasonal increase in manufactured goods prices and a slight increase in tobacco prices, INSEE reported.

Preliminary data had shown France’s EU-harmonised inflation figure standing at 2.4%, matching a forecast by analysts in a Reuters poll.

On a monthly basis, prices rose 0.2% in March, having risen 0.9% in February.

Energy prices rose by 3.4% on the year after a 4.3% rise in February, the slower rise reflecting a fall in gas prices and a slowdown in electricity prices.

Food prices in March rose by 1.7%, compared to a 3.6% rise in February, INSEE said, adding that this was the 12th month in a row that food inflation had eased.

Services prices in March rose by 3.0% compared to 3.2% the previous month.

(Reporting by Stéphanie Hamel; editing by Sharon Singleton and Jason Neely)