The consumer prices rose sharply by 2.3% in July compared to a year ago in France, up from the previous month (+2% in June), due to an acceleration in energy prices (+14.3%), according to a provisional estimate published this Tuesday by INSEE.
According to INSEE, this increase is mainly explained by the rise in energy prices in general and oil prices in particular. Over the past twelve months, a barrel of Brent crude oil has gone from 52 to 75 dollars.
Noticeable throughout the eurozone, the phenomenon is expected to ease in the coming months, driven by the likely stabilization of black gold prices.
Very low for several years, French inflation in July is slightly above the target set by the European Central Bank (2%), after already reaching 2% in the previous two months.
