Food inflation slowed down in France and accelerated in Spain

By: Trademagazin Date: 2024. 05. 15. 11:09

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In April, the annual inflation rate in France slowed to 2.2%, down from 2.3% in March, as reported by the French National Institute of Statistics and Economic Studies (Insee). Conversely, Spain saw an acceleration in consumer price growth, with the annual inflation rate rising to 3.3% from the previous month’s 3.2%, according to data from the Spanish National Statistics Institute (INE).

In France, the growth rate of food prices decreased, with a year-over-year increase of just 1.2% in April, down from 1.3% in March. Energy prices, however, accelerated to a growth of 3.8%. Prices for processed industrial goods dropped by 0.1% in April. The services prices remained stable with a 3% increase.

In Spain, prices for food and non-alcoholic beverages rose at an accelerating pace. The core inflation rate, which excludes food and energy prices, fell to 2.9%, marking the lowest level since January 2022. The Harmonized Index of Consumer Prices (HICP) showed an annual increase of 3.4%.

Both countries’ data are comparable through the EU-targeted HICP index, which indicated a 2.4% annual increase for France and a 3.4% increase for Spain in April.