Inflation slowed in France in March, settling at 5.6% following reaching 6.3% in February, according to an initial estimate published on Friday March 31 by the National Institute of Statistics and Economic Studies (Insee ).
The slowdown in the rise in consumer prices is explained by a markedly slower rise in energy prices in March. They rose by just under 5%, where they had climbed by nearly 30% between March 2021 and March 2022, just following the outbreak of war in Ukraine at the end of February 2022. In February 2023, prices of energy jumped another 14.1%.
But the rise in food prices took over and accelerated further in March to reach 15.8% over one year, following 14.8% over one year in February, according to INSEE. Fresh products rose by 16.6% over one year (following 15% in February), and other food products by 15.6% ( once morest 14.8%).
Tobacco prices also soared, rising by 7.8% over one year following having appreciated by only 0.2% the previous month. The year-on-year growth rate of the prices of services and manufactured goods is, on the other hand, almost stable.
