Monday, 28 November, 2022

Consumer prices soar in France

Consumer price inflation in France accelerated to new highs in October, data from the National Institute of Statistics and Economic Research (Insee) showed on Friday.

According to preliminary estimates, year-on-year price growth in the country hit 6.2 percent, exceeding July's high of 6.1 percent.

The rate had previously slowed in August and September after hitting the highest level since 1985 in July. Nevertheless, France’s inflation remains one of the lowest in Europe, reports RT.

The agency noted that the more rapid inflation was prompted largely by the rising cost of fuel, food and raw materials, as well as increasing production costs.