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French harmonized monthly inflation confirmed at -0.4%

French harmonized monthly consumer prices dropped by 0.4% in July, final data from the National Institute of Statistics and Economic Studies showed.

In annual terms, harmonized inflation was confirmed at 0.8%.

Nonharmonized consumer price inflation was negative 0.3% in July compared with the zero month-over-month change in June. Manufactured product prices fell 2.9% and energy prices slipped 1.3%, in their fifth consecutive monthly decline. Year over year, the consumer price index increased 0.7% as tobacco prices advanced 2.4% and energy prices increased 1.9%.

Service prices advanced by 1.0% month over month, up from the 0.3% increase in the June as prices of accommodation services surged by 10.5% and airfares jumped 21.8%.

The July core inflation indicator remained unchanged after a 0.1% rise in the previous month.