(Telestock) – Below-Expectation French Inflation Data for July 2024According to the preliminary estimate released by the French National Institute of Statistics (INSEE), consumer prices are indicated on an annual basis at 2.3% from 2.2% in the previous month. However, the data is lower than the 2.4% consensus.
On a monthly basis growth is estimated of 0.1%, lower than the +0.3% consensusafter +0.1% in June.
The harmonized indexa measure used by the ECB, indicates a trend growth of 2.6%, lower than expectations (+2.7%) after the +2.2% of June. On a monthly basis, a variation of +0.1% is recorded against the expected +0.3% and after the previous +0.2%.
Also producer prices are confirmed to be decreasing, recording a down 0.3% on a monthly basisalbeit less pronounced than the -1.6% of the previous month. On year prices have marked a 6% drop after the -6.7% reported the previous month.
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