Thursday, February 21, 2008

France Inflation January 2008

French inflation accelerated in January to the fastest pace in at least 12 years, led by higher food and energy costs.

Consumer prices climbed by an annual 3.2 percent, up from 2.8 percent in December, based on European Union-harmonized methods, Insee, the national statistics bureau, said today in Paris. That's the fastest since 1996, when Insee began reporting the data. Prices were unchanged from November.

In France, energy costs climbed 12.3 percent in January on the year, while fresh food costs jumped 3.3 percent and overall food costs added 4.4 percent. Tobacco prices rose 6.3 percent.

Inflation in the euro region quickened to 3.2 percent in January, the fastest in 14 years. The International Monetary Fund yesterday forecast consumer prices would increase an average 2.3 percent in France this year compared with 1.6 percent last year.

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