France's consumer price inflation remained unchanged at the end of the year, as confirmed by the latest figures from the national statistics agency INSEE, released on Tuesday.
The inflation rate for consumer prices stood at 1.3 percent in December, mirroring the November figures and aligning with the preliminary data released on January 7.
In contrast, harmonized inflation experienced a slight increase, reaching 1.8 percent in December from 1.7 percent the previous month, as initially forecasted. Notably, this figure still falls below the European Central Bank's target of 2 percent.
The resurgence in energy prices was counterbalanced by a more pronounced decrease in the prices of manufactured goods compared to November, alongside stability in food prices, according to the report.
Energy costs were 1.2 percent higher than the previous year, compared to being 0.7 percent cheaper in November. Meanwhile, prices for manufactured items fell by 0.4 percent, and there was little change in food prices.
On a monthly scale, consumer prices rose by 0.2 percent, contrasting the 0.1 percent decline observed in November, consistent with the flash estimate. Similarly, the harmonized index of consumer prices increased by 0.2 percent following a 0.1 percent drop in the prior month.
For the year 2024, the average annual inflation rate was 2.0 percent, marking a significant decrease from 4.9 percent in 2023. This decline was largely attributed to a dramatic slowdown in the rise of food prices and the stability of manufactured product prices.
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