Inflation in France rose further in July and reached 6.1% over one year, according to INSEE

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Inflation in France rose further in July and reached 6.1% over one year, according to INSEE

It increased by 0.3 points compared to June, fueled by the prices of services and food more than by those of energy.

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Published on 07/29/2022 09:11 Updated Reading time: 1 min.
France is not done with inflation. This increased further in July, reaching 6.1% over one year, according to estimates published Friday, July 29 by INSEE. It increased by 0.3 points compared to June, and had never been so high since 1958. Over one month, consumer prices increased by 0.3%, a slower pace than between May and June (+0.7%). According to INSEE, “this rise in inflation would be due to an acceleration in the prices of services in connection with the summer period, food and – to a lesser extent – ​​manufactured products”. Over one year, food prices increased by 6.7%. Energy prices, whose rise is the main driver of current inflation, continue to rise, but less rapidly. INSEE estimates their increase at 28.7% compared to July 2021, while it was 33.1% the previous month. A slowdown which is explained by the fall in the price of oil.The harmonized consumer price index, which serves as the basis for European comparisons, increased by 6.8% over one year after 6.5% in June.

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