French consumer confidence fell in October as inflation concerns mount – .

French consumer confidence fell in October as inflation concerns mount – .

Customers carry shopping bags with purchases outside a department store in Paris, France, Feb. 26, 2016. Consumer prices in France fell 0.1% year-over-year, said the statistical agency INSEE in a first estimate of EU harmonized inflation data. Economists polled by Reuters on average expected an inflation rate of 0.1% in February. REUTERS / Charles Platiau

PARIS, October 27 (Reuters) – French consumer confidence levels fell in October from the previous month, missing market forecasts as concerns over inflation weighed on sentiment.

INSEE said its measure of French consumer confidence fell to 99 points in October from 101 in September. Fourteen analysts polled by Reuters had forecast a figure of 101 for the October reading.

INSEE added that its survey showed a sharp increase in households who believed prices would go up.

Rising energy prices have caused inflation to accelerate in Europe. Earlier this week, oil prices hit their highest levels since 2014, supported by a global supply shortage and strong demand in the United States, the world’s largest consumer. Read more

Data for early October also showed inflation in the eurozone to hit a 13-year high in September. Read more

Reportage par Sudip Kar-Gupta Montage par Peter Graff

Our Standards: Thomson Reuters Trust Principles.


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