Inflation stabilizes in November at 6.2% year on year

Consumer prices rose by 6.2% in France in one year, according to an initial estimate of inflation at the end of November, published on Wednesday 30 November by INSEE. The inflation rate had already reached the same level over one year in October. In November, the rise in food prices accelerated compared to the previous month (+12.2% over one year compared to 12% in October) while energy prices slowed their progression (18. 5% versus 19.1%).

With regard to food, the prices of fresh products have soared by 12.5% ​​since November 2021, after the 17.3% increase recorded in October. A deceleration offset by the renewed inflation observed in other food products (12.1% in November, one point more than in October).

The cost of services increased by 3% over one year (3.1% in October) and that of manufactured goods rose by 0.2 points compared to October (4.4% over one year). Over one month, the consumer price index rose by 0.5%, after a jump of 1.2% between September and October 2022.

7.1% increase in the harmonized consumer price index

Reference indicator for comparisons between European countries, “the harmonized consumer price index would increase by 7.1% over one year, as in October”underlines the National Institute of Statistics.

On Tuesday, Germany (10%) and Spain (6.8%) reported a slowdown in their year-on-year inflation rates in November. A first estimate of average inflation in the euro zone should be published late Wednesday morning. In October, it reached a record level of 10.6% according to Eurostat.

Source : BBN NEWS

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