France’s annual inflation rises to 2.4% in August

France’s annual consumer inflation accelerated to 2.4% in August, up from 2.1% in July, provisional data showed Friday.

The increase was mainly driven by faster growth in energy prices, particularly petroleum products, the National Institute of Statistics and Economic Studies (INSEE) said.

Energy prices jumped 16.7% year on year in August, accelerating from a 12.6% increase in July.

Annual food inflation edged up to 1.1% from 1%, with fresh food prices surging 5.8%.

Prices for manufactured products fell 0.4% from a year earlier, following a 0.7% decline in July.

Services inflation, meanwhile, eased to 2% from 2.2%, while tobacco prices rose 3.3%, unchanged from the previous month.

On a monthly basis, consumer prices increased 0.7% in August after rising 0.6% in July.

The monthly increase reflected a seasonal rebound in manufactured product prices, particularly clothing and footwear, following declines during summer sales.

Energy and food prices also increased from July, while services and tobacco prices remained stable.

France’s EU-harmonized annual inflation rate climbed to 2.7% in August from 2.4% in July. The harmonized index rose 0.8% month on month.