The French Consumer Price Index (CPI) increased by 5.6% in March, according to the preliminary report by the country's statistical office INSEE published on Friday. The inflation rate slightly eased compared to the January reading.
The slight contraction of the inflation rate comes as energy costs are anticipated to decline as the prices of petroleum products continue to decline. However, the prices of food, tobacco, and manufactured goods are expected to accelerate in March on both yearly and monthly basis.
In comparison to the February reading, consumer prices were seen adding 0.8% in March, while the Harmonized Index of Consumer Prices is expected to jump by 6.6% year on year, and 0.9% on a monthly basis.
