French consumer prices rise in October, miss market expectations

Consumer prices in France rose during the month of October as a rebound in energy prices was offset by falls in food and services prices and the continued decline in the price of manufactured goods.

The preliminary reading of inflation in the eurozone's second largest economy showed the Consumer Price Index was unchanged on the month. On year, France's CPI rose 0.4 percent while economists expected 0.5 percent, data released by the statistics agency Insee showed Friday.

The measure of inflation closely watched by the ECB, the harmonized measure of annual price change known as HICP, rose 0.5 percent in October, the same as September, Insee said.

Meanwhile, the preliminary figures indicate the European Central Bank's quantitative easing program and record low rates did not push inflation any further toward the bank's 2 percent target in October.