French annual inflation rose to 2.1% in July, driven by energy and services, while core inflation accelerated to 1.3%.
France’s annual inflation rate reached 2.1% in July, matching preliminary estimates and up from 1.8% in June. The increase was fueled by a surge in energy prices, which jumped 12.6% year-over-year, led by a 17.7% rise in gas costs.
Core inflation also accelerated to 1.3% from 1.0% in June, with services inflation climbing to 2.2% from 1.9%. Food price inflation edged up slightly to 1.0%. The data suggests persistent price pressures, particularly in services, which may concern the ECB.
The figures align with preliminary estimates and reinforce expectations of continued inflationary trends in the eurozone’s second-largest economy.