The preliminary inflation rate in France was higher than expected in July, according to data released by INSEE. The harmonized inflation rate, which is adjusted for comparison with other euro zone countries, reached 2.4% year-on-year.
This is above the average forecast of 17 analysts polled by Reuters, who had estimated a rate of 2.1%. Estimates ranged from 1.8% to 2.3%, indicating some variation in predictions.
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