France’s consumer price inflation slowed in October to its lowest level in over two years, data from the statistical office Insee showed Thursday.
The consumer price index slowed to 0.7 percent in October from 0.9 percent in September. The rate was expected to remain unchanged at 0.9 percent.
The latest inflation rate was the lowest since July 2017, when it was at 0.7 percent.
The slowdown in inflation was due to downturn in energy prices and food, data showed.
On a monthly basis, consumer prices edged down 0.1 percent in October, following a 0.3 percent fall in the previous month. Economists had expected a 0.1 percent rise.
Year-on-year, the harmonized index of consumer prices climbed by a less-than-expected 0.9 percent in October after rising 1.1 percent in September. Economists had forecast an increase of 1.0 percent.
Compared to the previous month, the HICP declined 0.1 percent in October, following a 0.4 percent fall in the previous month. Prices were expected to ease 0.3 percent.
The material has been provided by InstaForex Company – www.instaforex.com