French consumer prices rose 0.7 per cent in February from January's levels and 2.6 per cent from February 2002, figures released today by the national statistics institute INSEE showed.
The institute said the "sharp rise" was led by clothes and shoes prices, which rose 4.9 per cent from January to February after a shorter-than-usual winter sales period; and by oil and petrol products, which rose 3.4 per cent, or 14.7 per cent on an annualised basis.
"The sharp increase in the price of Brent crude is not completely offset by the euro's appreciation against the dollar," the institute said.
In the past 12 months, the price of Brent North Sea crude oil has risen by 14.7 per cent.
Underlying inflation, an indicator that excludes volatile prices such as fresh goods and energy, rose 0.5 per cent from January to February and by 2.0 per cent in the year to February.
A second "harmonised" indicator, designed to facilitate comparison between European countries, showed prices rising by 0.7 per cent in the month to February, and 2.5 per cent over the year.