Inflation in France is rising rapidly and reached 4.5% year on year in March, according to INSEE estimates

Inflation in France clearly crossed the 4% mark over one year in March, according to an initial estimate published Thursday, March 31 by the National Institute of Statistics and Economic Studies (Insee). After reaching 3.6% over one year in February, the increase in the consumer price index stood at 4.5% in March.

In addition to the rise in the price of petroleum products, linked in particular to the war in Ukraine, INSEE has observed a marked increase in the price of manufactured products and food.

“Over one month, consumer prices should increase by 1.4%, after +0.8% in February”notes INSEE.

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Household consumption has “slightly” recovered in February, by 0.8%, reported INSEE, which also revised down to -2% the contraction observed in January.

February’s increase “is driven by the sharp rebound in consumption of manufactured goods”which rose by 2.2%, after -2.9% in January, said the National Institute of Statistics.

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