PARIS (dpa-AFX) - France's consumer prices declined more-than-expected in April, mainly due to the drop in energy prices, preliminary estimates from the statistical office INSEE showed Friday.
The consumer price index fell 0.2 percent year-on-year after a 0.1 percent drop in March. Economists had forecast a 0.1 percent decline.
Month-on-month, consumer prices rose 0.1 percent in April, largely due to a price upturn in services and a new price increase in petroleum products. Economists had forecast a 0.1 percent increase. In March, prices climbed 0.7 percent.
Prices of manufactured products should fall slightly in the wake of discounts, while food prices are likely to be overall stable.
The harmonized index of consumer prices, or HICP, fell 0.1 percent for a third straight month. The decline was in line with economists' expectations.
On a month-on-month basis, the HICP grew 0.1 percent in April after a 0.8 percent rise in the previous month. Economists had forecast a 0.1 percent increase.
INSEE is set to publish final CPI and HICP data for April on May 12.
Separately, the INSEE reported that producer prices declined 4 percent annually in March. Compared to the previous month, domestic producer prices grew 0.3 percent, led by prices for oil refining products, and followed three consecutive months of decline.
Copyright RTT News/dpa-AFX