According to the French statistics office (INSEE), the French economy grew only slightly in the third quarter due to sluggish household spending, while inflation rose sharply in October. This indicates the obstacles that will arise in the final quarter of this year.
According to INSEE, the French economy grew by 0.2% in the third quarter of 2022.
Meanwhile, the consumer price index (CPI), a measure of inflation, rose in October. Adjusted for inflation in the European Union (EU), inflation rose to 1.3% month-on-month. Crucial factors here were the cost of petroleum products and food prices.
The annual inflation rate reached 7.1% in October, up from 6.2% in the previous month. It exceeded the record high of 6.8% in July.