French Inflation Accelerated in January on Higher Food, Energy Prices

French Inflation Accelerated in January on Higher Food, Energy Prices

French inflation edged back up in January, remaining close to multidecade high levels, due to the acceleration in food and energy prices as the government ended fuel subsidies and increased the price cap on natural gas. The consumer price index increased 6.0% in January compared with a year earlier, up from the 5.9% increase recorded in December, preliminary data from the country's statistics office Insee showed Tuesday. Energy prices increased 16.3% on year in January, up from the 15.1% annual increase recorded in December, Insee said.