Fall in overall consumption in France down mainly to lower cigarette sales

French households cut back slightly on their consumption in October, mainly in response to a rise in cigarette prices, according to an Agence France Presse story quoting official data.

Consumption, a main driver of growth in the French economy, slipped by 0.2 per cent in October from the September level.

The INSEE statistics institute said that a rise in purchases of durable goods in October had not compensated for a sharp fall in spending on cigarettes following a tax hike.