Inflation edges up slightly to 9.2% in October

Inflation rose to 9.2% in October from 9.1% in September, the National Institute of Statistics (French: INS) said on Saturday.


This is the result of higher food prices (12.9% year-on-year) driven by a spike in the prices of eggs (+33.3%), sheepmeat (21.1%), edible oil (+20.8%), fresh vegetables (+18.5%), beef meat (+15.1%) and poultry meat  (15%).


The prices of manufactured goods followerd suit, edging up 9.6% as a consequence of price hikes of building materials (+10.3%), apparel products.(+9.7%) and routine households maintenance  products (+9.4%).


In the sector of services, a year-on-year increase of 6.2% was reported. It is caused by higher prices of restaurant, coffee shop and hotel services (+9.6%). Core inflation (excluding food and energy) also grew to 7.4% against 7.3% one month earlier.


Prices of unregulated products rose 10.3% year-on-year, while those of regulated products edged up 6%.  Prices of unregulated food products posted a 15.3% rise against 0.5% for regulated food products.


Consumer prices post 1% increase in October

In October 2022, consumer prices rose 1% following a 1.1% increase in September.

This is the consequence of price hikes of clothing (+6.4%), food products (+0.8%) and housing, water, electricity and gas (0.7%).


Higher apparel prices are caused by the end of summer sales. Prices of clothing products edged up 6.1%, while respective rises of 7.3%, 1.2% and 2% were reported for footwear, fabric and various accessories.


Source: Tap News Agency