French Consumer Prices Drop Again In July

By IBTimes Staff Reporter | August 12 2009 4:01 AM

RTTNews - Wednesday, the French statistical office INSEE said consumer prices slipped 0.7% annually in July, slightly slower than the 0.8% decrease expected by economists. Prices declined for the third consecutive month in July. Consumer prices for all households dropped 0.4% in July from June, which was also smaller than the expected drop of 0.5%.

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The statistical office said that the decline seen in July was largely due to the fall in the cost of clothing and footwear and other manufactures.

The harmonized index of consumer prices declined 0.5% on a monthly basis taking the annual fall to 0.8%. Economists were looking for a monthly 0.4% fall, while annual decline matched economists' expectations.

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