Consumer prices up 0.5% in February

Wednesday, 16 March 2011 00:20 -     - {{hitsCtrl.values.hits}}

PARIS (Reuters) - Consumer prices rose 0.5% in France in February compared to the previous month but inflation over one year has decelerated slightly to 1.7%, show statistics released Tuesday by the INSEE.

In January, the index of consumer prices (CPI) declined 0.2% from one month to another, particularly because the balances, and it posted a 1.8% annual rate.

The HICP HICP, which allows a comparison at European level was up by 0.5% in February and up 1.8% year on year.

Sixteen economists polled by Reuters had expected, on average, an index up 0.6% over the month and 1.9% over one year.

“The price increase in February was mainly due to higher prices of petroleum products and services from those due to seasonal increases or tariff, while prices of manufactured goods are stable,” said INSEE in statement.

The energy prices, up 1.1% from January, showing an increase of 15.0% over one year.

Those services were up 0.7% from one month to another, a movement linked to particular winter holidays and tariff increases, says the National Institute of Statistics.

The increase was more moderate for food, 0.3% over the month as a year.