By Frank Prenesti
Date: Tuesday 31 Jan 2023
(Sharecast News) - French inflation rose in January, driven by higher energy prices after government support measures were withdrawn, according to preliminary figures released on Tuesday.
Consumer prices rose 0.4% from December, which saw annual inflation hit 7% from 6.7% the previous month. The figures were in line with economists' expectations and after the government phased out a subsidy for car fuel at the end of the year.
Meanwhile, regulated gas prices set by the government rose 15% at the start of 2023. Regulated power prices are also set to rise by the same amount from Wednesday.
Reporting by Frank Prenesti for Sharecast.com
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