PARIS, April 30 (Xinhua) -- France's consumer price index (CPI) is expected to jump by 2.2 percent year-on-year in April, after already rising by 1.7 percent in March, the National Institute of Statistics and Economic Studies (INSEE) said Thursday.
In its preliminary report, the INSEE noted that the further acceleration in inflation was mainly driven by a sharp surge in energy prices, particularly petroleum products.
The institute projected that energy prices would jump by 14.2 percent year-on-year in April, following a 7.4-percent increase in March. Service prices are also expected to rise at a slightly faster pace, while tobacco prices would increase at the same rate as in the previous month.
Monthly, consumer prices are projected to rise by 1.0 percent in April, marking a third consecutive monthly increase, after gains of 1.0 percent in March and 0.6 percent in February.
The institute attributed the increase mainly to higher service prices, notably in transport and accommodation, as well as a strong rise in energy prices driven by petroleum products such as diesel, gasoline and liquid fuels.
Amid rising oil prices, France has rejected calls for broad-based tax cuts, citing fiscal constraints and concerns over efficiency. Instead, Paris has introduced targeted support for transport, agriculture and fisheries, while offering liquidity support to small businesses through state-backed loan schemes. ■
