PARIS, Nov. 29 (Xinhua) -- France's consumer price index (CPI) is expected to rise by 1.3 percent year-on-year in November, the French National Institute of Statistics and Economic Studies (INSEE) announced on Friday.
In its preliminary report, INSEE highlighted "near stability in inflation," citing a slowdown in food price increases, projected at 0.2 percent compared to 0.6 percent in October. Energy price increases are also expected to slow further, though at a more moderate pace.
Service prices, influenced by Black Friday and the year-end holiday season, are forecast to increase by 2.5 percent, slightly higher than the 2.3 percent growth recorded in October. Meanwhile, the prices of manufactured products and tobacco are expected to maintain trends similar to the previous month, according to INSEE.
France has kept its CPI growth below 2 percent since August this year. Earlier this week, Prime Minister Michel Barnier announced a 14-percent reduction in regulated electricity prices, set to take effect in February 2025.
Stephane Colliac, senior economist for France at BNP Paribas, noted that with this decrease in electricity prices, inflation in France could fall below 1 percent in February 2025. ■