The fall is largely due to a slowdown in energy, services and manufactured goods prices. Yet food prices, which are one of the main drivers of inflation, failed to cool off as significantly.
ADVERTISEMENTInflation continues to fall in France, dropping to 3.5% year-on-year in November, thanks mainly to a deceleration in energy and service prices, according to new figures from the country's statistical office.
Compared with October, when consumer prices rose by 4.0% year-on-year, France is experiencing a clear cooling of inflation.
"This fall in inflation is the result of a slowdown over one year in energy prices (3.1% after 5.2% in October), services (2.8% after 3.2%) and manufactured goods (1.9% after 2.2%)," the National Institute of Statistics and Economic Studies (Insee) said on Friday.
In the energy sector, a number of prices fell, notably those of petroleum products (-1.4% after 1.8% in October) and diesel (-2.5% from 1.6%). Price rises slowed for petrol (7.5% from 13.5%) and electricity (16.1% from 18.5%).
In services, it's transport prices particularly which explain the deceleration: they fell sharply from 5.4% to -1.4%, according to Insee.
Prices for "other services" rose at a rate close to that of the previous month (4.3% after 4.4%), particularly those for social protection, restaurants, home maintenance and repairs, and private vehicles, according to INSEE.
Over a year, the price of manufactured goods rose by 1.9% in November, after 2.2% in October.
On the other hand, food prices (7.7% after 7.8%), one of the main drivers of inflation, and tobacco prices (9.8% after 9.9%) slowed "to a lesser extent", notes the institute.
Underlying inflation, which excludes the most volatile items like energy and certain food products, providing a more consistent trend in price movements, dropped significantly to 3.6% year-on-year in November, down from 4.2% year-on-year in October.
The Harmonised Index of Consumer Prices (HICP), used for Europe-wide comparisons, "fell over one month (-0.2% after 0.2% in October)" and slowed over one year, according to Insee, rising by 3.9% in November after 4.5% in October.
