French Producer Price Inflation Picks Up In April

(RTTNews) - Output prices of the French industrial sector in the domestic market increased 1% in April compared to March, statistical office INSEE said on Tuesday. It follows a 0.7% rise in the previous month. INSEE said sharp increases in petroleum products and industrial raw materials had contributed to the surge in inflation. Year-over-year, domestic producer prices were up 4%.

In foreign markets, producer prices increased 0.7% month-on-month in April. In domestic and foreign markets combined, the producer price index climbed 0.9%, faster than analyst forecasts for a 0.6% rise. On a year-over-year basis, the producer price index gained 3.4%, exceeding expectations for a 3.3% rate.