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France inflation accelerates in September, HICP tops expectations

French September HICP rose to 3.4% year over year, with energy prices up 21.2% and services inflation increasing to 2.2% on the month.

Reported · Written up by our desk · Inflation

France’s preliminary inflation readings for September showed a broad pickup, with the key harmonised measure rising above expectations, according to Forexlive. The outlet cited that France’s preliminary CPI came in at 3.0% year over year, compared with 2.8% expected, up from 2.4% previously.

Forexlive also said France’s preliminary HICP climbed to 3.4% year over year versus 3.1% expected, compared with 2.6% prior. The report noted that energy was the standout driver, with energy prices accelerating to 21.2% year over year from 16.7% in August.

The acceleration also extended beyond energy, Forexlive reported. It said services inflation picked up from 1.9% to 2.2% in September and food inflation rose from 1.1% to 1.5% on the month.

Forexlive added that the jump in HICP is likely to raise the core inflation estimate that will come with the final report, and it flagged the data as adding to broader inflation concerns ahead of Germany’s CPI figures later the same day.

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