Final data published by the National Institute of Statistics and Economic Studies (Insee) showed that last month consumer prices in France rose by 2.8% per annum after a similar increase in November. Economists also expected an increase by 2.8%. Insee reported that the CPI growth in December was associated with a significant increase in the cost of industrial goods and food, while tobacco prices did not change. Meanwhile, prices for energy and services decreased relative to November 2020.
The data also showed that monthly consumer price growth slowed to 0.2% compared to +0.4% in November. Economists also expected an increase by 0.2%. A weaker price increase was associated with a drop in the cost of energy and petroleum products. Meanwhile, the prices of manufactured goods did not change relative to November, while the growth of prices for services and food accelerated.
Insee reported that in December, the harmonized consumer price index increased by 3.4% per annum and by 0.2% on a monthly basis. In November, the index grew by 3.4% and 0.4%, respectively.