03.01.202006:59:00UTC+00France Inflation At 1-Year High

France consumer prices grew at the fastest pace in a year in December, flash data from the statistical office Insee showed Friday.

Consumer prices increased 1.4 percent year-on-year in December, faster than the 1 percent rise in November. This was the fastest increase since December 2018, when prices advanced 1.6 percent.

This sharp rise in inflation resulted essentially from a marked rebound in energy prices, in the wake of petroleum product price, the statistical office said.

On a monthly basis, the increase in consumer prices accelerated to 0.4 percent from 0.1 percent in November.

Economists had forecast consumer prices to climb 1.4 percent annually and 0.3 percent on month in December.

EU harmonized inflation increased to 1.6 percent from 1.2 percent in November. The rate was also faster than the expected 1.3 percent.

Month-on-month, the harmonized index of consumer prices advanced 0.5 percent after rising 0.1 percent a month ago. Prices were forecast to gain 0.3 percent.