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French CPI rises by 0.7 percent in February

Xinhua, March 12, 2015 Adjust font size:

French consumer price index (CPI) grew by 0.7 percent in February as soaring prices of manufactured products and energy costs pulled up the country's inflation rate, statistics showed Thursday.

Year-on-year, the CPI, a key gauge of inflation, reported negative trend for the second consecutive month after falling by 0.3 percent compared to January data, the national statistics bureau Insee said in its monthly report.

The rising CPI stemmed mainly from higher prices of manufactured goods which increased by 1 percent due to increasing prices of textile and leather goods, the Insee said.

In February, energy prices recovered with a 2.1-percent growth as petroleum product prices jumped by 4.7 percent against 12.1 percent drop reported a month earlier.

Due to growing costs of services related to winter holidays, services prices were up by 0.4 percent while prices of food products rose by 0.2 percent.

Finance Minister Michel Sapin has said that he expected zero inflation in 2015. Earlier, officials have set a target inflation rate of 0.9 percent for the whole year. Endi