(RTTNews) - Friday, the French statistical office INSEE said consumer price annual inflation slowed to 0.7% in January, which is the lowest since September 1999. Month-on-month, consumer prices were down 0.4% compared to a 0.1% decline in the last year. Inflation numbers came in line with economists’ expectations.

The statistical office said this new fall in inflation was driven by decrease in prices of clothing and footwear and also of other manufacturers due to winter sales. Prices of energy and health products decreased further.

The Harmonized Index of Consumer Prices dropped 0.4% on a monthly basis in January, taking the annual increase to 0.8%.

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