France: Inflation rate reached 2.4% during March

The National Institute of Statistics and Economic Studies in France said on Friday that consumer prices in the country rose 2.4% on an annual basis in March, confirming preliminary data.

According to Reuters, the institute reported that inflation in March occurred mainly due to the seasonal increase in the prices of manufactured goods and a slight increase in tobacco prices.

Preliminary data showed that the French inflation rate coordinated with the European Union reached 2.4%, in line with the expectations of analysts polled by Reuters.

On a monthly basis, prices increased 0.2% in March after rising 0.9% in February.

Energy prices increased 3.4 percent year-on-year after increasing 4.3 percent in February, and the slow rise reflects lower gas prices and a slowdown in electricity prices.

The institute stated that food prices rose 1.7 percent in March compared to a 3.6 percent rise in February, adding that this is the twelfth consecutive month in which food price inflation has declined.

Service prices rose by 3.0% in March compared to 3.2% in the previous month.