October 11, 2018 / 7:00 AM / 7 months ago

French inflation confirmed to have edged back to 2.5 percent in September

PARIS (Reuters) - French consumer prices fell 0.2 percent on a month-on-month basis in September, giving a year-on-year inflation rate of 2.5 percent, according to final EU-harmonised data from the INSEE national statistics office which confirmed an earlier official estimate.

The September 12-month inflation rate nevertheless remained close to the 2.6 percent registered in August, which was the highest since March 2012.

A rise in oil prices has increased inflationary pressures within the euro zone, while Italy’s borrowing costs have also risen due to concerns over the political and economic situation in Rome.

The European Central Bank (ECB) has a target for inflation within the euro zone standing at a rate of below, but close to, 2 percent.

The ECB is due to stop its 2.6 trillion euro ($3 trillion) bond-buying program at the end of the year but it has pledged to keep rates at their current, rock-bottom level through to next summer.

Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon

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