French inflation hit near 10-year high of 2.7% in September

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FILE PHOTO: People wearing protective face masks outside a shop in a street in Nice, as France’s 16 hardest-hit departments go into a third lockdown imposed to slow the rate of contagion of the coronavirus disease (COVID-19) , March 19, 2021. Businesshala/Eric Gaylard/File photo
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PARIS (Businesshala) – French inflation rose slightly less than expected in September but still rose to the highest rate in nearly a decade, preliminary data from the INSEE statistics agency showed on Thursday.

INSEE said its EU-reconciled consumer price index fell 0.2% since August, with the 12-month inflation rate at 2.7% from 2.4% in August.

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The September rate was the highest since December 2011, but slightly below the average forecast of 2.8% in a Businesshala poll of 24 economists’ expectations.

As is currently the case in many countries, inflation is increasing in France due to rising energy prices. INSEE said they grew 14.4% in one year in September

Reporting by Leigh Thomas; Editing by Giles Elgood

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