The French economy grew 0.5 percent in Q2 2023 compared to 0.1 percent in Q1 of the same year, according to a report released on Friday by the National Institute of Statistics and Economic Studies (INSEE).
Gross domestic product noticeably grew in Q2 due to rise of external trade, 0.7 percent, against 0.5 percent previously. Meanwhile, exports recovered in Q2 by 2.6 percent and imports by 0.4 percent.
Over a year, the Consumer Price Index (CPI) should rise by 4.3% in July 2023, after +4.5% in the previous month, according to the provisional estimate made at the end of the month. This further decrease in inflation should result from a new year-on-year decline in energy prices and a slowdown in food prices (for the fourth consecutive month) and in those of manufactured goods. The prices of services should increase over one year at a rate close to that of the previous month.
Over one month, consumer prices should be stable in July 2023, after +0.2% in June. The prices of energy should fall back due to the decrease in gas prices. The prices of manufactured goods, notably those of clothing and footwear, should also fall back due to the summer sales.
The prices of food should slow down and those of services should accelerate due to the seasonal increase in transport service prices and in other service prices.
Year on year, the Harmonised Index of Consumer Prices should rise by 5.0% in July 2023, after +5.3% in June. Over one month, it should be stable, after +0.2% in June.
Source: Kuwait News Agency