The French National Institute of Statistics and Economic Studies (INSEE) revised upwards the country’s March consumer price index (CPI) to 5.7 percent year-on-year from the previously forecast 5.3 percent.
The INSEE explained in its final monthly report that this decrease in inflation, from 6.3 percent in February, resulted from a slowdown in energy prices.
In March, energy prices only increased by 4.9 percent compared with 14.1 percent in February, the institute said, adding that petroleum product prices fell back markedly, while the prices of gas slowed down slightly.
However, due to an increase in market offers, electricity prices accelerated in March by 11 percent year-on-year.
Food prices went up by 15.9 percent year-on-year in March, the INSEE noted.
The prices of fresh products accelerated for the third consecutive month in France by 17.1 percent, after 15 percent in February and 10.2 percent in January.
Francois Villeroy de Galhau, governor of the Bank of France, warned at the beginning of March that inflation will persist in the country over the next two to three years. It should peak in the first half of this year, but could be halved by December, he said. ■
