France CPI inflation confirmed at 1.3% in November

Annual consumer price inflation in France has been confirmed at 1.3% in November, up from 1.2% in October, data by INSEE showed.

It has been the highest annual rate since August.

The acceleration was mostly driven by a slower drop in energy prices, by 0.7% year-on-year compared to a 2.0% YoY decline in October.

Food inflation has slowed to 0.2% YoY in November from 0.6% YoY in October.

At the same time, prices of manufactured products dropped further, by 0.3% YoY compared to a 0.2% YoY fall in October.

And, inflation has remained steady for services (at 2.3% YoY) and tobacco (at 8.7% YoY), the data showed.

In monthly terms, consumer prices in the country edged down 0.1% in November, after a 0.3% increase in October.

The EUR/USD currency pair settled 0.31% higher at 1.0498 on Friday. For the week, the major currency pair went down 0.65%.