France August Output Price Inflation Exceeds Forecast

France August Output Price Inflation Exceeds Forecast


France's producer price inflation surpassed economists' expectations in August, data released by statistical office Insee showed Friday.
The producer price index for the domestic market increased 2.6 percent on an annual basis in August, faster than the 2 percent gain economists had forecast.
Prices in the manufacturing sector advanced 2.4 percent annually, while prices in the mining, energy and water supply sector rose 3.9 percent.
At the same time, the corresponding index for the overseas market moved up 0.2 percent month-on-month in August, taking the annual growth to 1.4 percent. Overall output prices in both the domestic market and the foreign market grew 2.2 percent annually, and 0.4 percent month-on-month.
On a monthly basis, overall producer prices increased at a faster rate of 1.2 percent in August than 0.4 percent seen in July. Economists were looking for a 0.6 percent sequential increase.