French consumer prices rose by 0.2 per cent from December to January and by 2 per cent on a 12-month comparison, data from the national statistics institute INSEE showed today.
The 12-month figure marked a slowing from inflation of 2.3 per cent in the 12 months to December 2002. This was owing partly to sharp price rises after the launch of the euro on January 1st last year, now excluded from the 12-month change, INSEE said.
Prices rose by 0.5 per cent in the month of January 2002 after the introduction of the single currency.
The effects of higher inflation in the services sector following the euro launch are also beginning to fade, INSEE said.
After seasonal adjustments for the traditional sales period, Tuesday's figures show a 0.6-per cent increase in December to January, with 12-month inflation unchanged at 2.0 per cent.
The average inflation rate in 2002 was 1.9 per cent, compared with 1.7 per cent the previous year.
Underlying inflation, excluding volatile prices such as those for energy and fresh food, was 0.1 per cent in January and 1.4 per cent over 12 months.
On an EU harmonised basis, prices rose by 0.3 per cent in January and by 1.9 per cent over 12 months.
AFP