France’s inflation accelerated more than forecast in August as a decline in food inflation was offset by higher energy prices.

This is according to preliminary EU-harmonised official data published on Thursday.

French consumer prices hit a 12-month inflation rate of 5.7%, the INSEE statistics agency stated, a rise from July’s reading of 5.1%.

A total of 18 economists surveyed by the Reuters news agency forecast the 12-month inflation rate to hit 5.4% on average, with estimates in a range of between 4.7% and 5.8%.

“This rise in inflation is due to a rebound in energy prices. Food prices eased (for the fifth month in a row) as well as those, to a lesser extent, of manufactured products and services,” according to France’s statistics agency. 

In addition, food prices in France rose 11.1% in August, compared to a 12.7% increase the month before, whilst energy prices rose 6.8% after declining 3.7% in July.

Even though the decline in food inflation will be welcomed by the government, following fears that elevated food prices could weaken consumer confidence, it remains almost double the country’s overall inflation rate.

Following meetings with top retailers earlier this week, French Finance Minister Bruno Le Maire also met with their industrial suppliers to determine ways to accelerate price cuts, the Reuters report goes on to add.

The increase in energy costs stemmed from a rise in the prices of oil products as well as the partial removal of price caps on electricity prices, INSEE stated.

The statistics agency also said that the eurozone’s second-largest economy grew 0.5% in the second quarter, following growth of 0.1% in the first three months of the year.