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French March CPI up 0.7 pct on soaring manufacturing prices

Xinhua, April 15, 2015 Adjust font size:

The consumer price index (CPI) increased by 0.7 percent in March from a month earlier due to surging costs of manufacturing and energy costs, figures released by the national statistics institute Insee showed Wednesday.

On a year-on-year basis, prices in the country went down by 0.1 percent.

March's CPI rise stemmed mainly from "the rebound of manufactured product prices after the end of winter sales and tariffs of some services during the school holiday period," Insee said in a monthly economic report.

Prices of manufacturing grew by 2 percent thanks to soaring textile costs which jumped by 12.6 percent, it added.

Following a growth in fuel products rates, energy prices were up by 1 percent, while food products rose slightly by 0.1 percent helped by the 2.3 percent growth in prices of fresh goods..

The core inflation indicator increased last month by 0.2 percent, whereas the harmonized consumer price index went up by 0.7 percent year-on-year, according to the report.

French officials set the inflation rate at 0.9 percent for the whole year of 2015. Endit