French Inflation Dips Below 1% in February After Four Years
(Reuters) -French inflation dropped below 1% for the first time in four years in February, final data from statistics office INSEE showed on Friday.
France's harmonized inflation rate, adjusted for comparison with other euro zone countries, was 0.9% year-on-year in February, in line with analysts' expectations and the preliminary reading published at the end of February.
It was the first time the rate was below 1% since February 2021.
Prices were up 1.8% year-on-year in January.
The slowdown in inflation is explained by the sharp drop in energy prices, and to a lesser extent by a slower rise in services, manufactured goods and tobacco prices.
On the other hand, food price inflation accelerated slightly, INSEE said.
On a monthly basis, EU-harmonised consumer price index was up 0.1% in February, versus the preliminary reading of a 0.2% drop and a Reuters poll that had expected no change from January.
(Reporting by Leo Marchandon and Michal Aleksandroiwcz in Gdansk; Editing by Milla Nissi)
