PARIS, March 31 (Xinhua) -- France's consumer price index (CPI) is expected to increase by 1.7 percent year-on-year in March, the National Institute of Statistics and Economic Studies (INSEE) said Tuesday.

Customers drink beer at a cafe in Paris, France, Nov. 7, 2022. (File photo: Xinhua)

In its preliminary report, INSEE noted that the figure marks an acceleration from February's 0.9-percent rise, driven mainly by a sharp rebound in energy prices, particularly petroleum products.

The institute projected that energy prices would increase by 7.3 percent year-on-year in March, reversing February's 2.9-percent decline. Service prices are expected to rise at a slightly faster pace, along with increases in tobacco prices.

Monthly, consumer prices are projected to climb 0.9 percent in March, following a 0.6-percent increase in February, mainly due to higher energy prices, especially petroleum products.

Food prices are expected to post slight month-on-month increases, while prices for manufactured goods and services are projected to slow compared with February.

Since the onset of the Middle East conflict, Brent crude has largely remained above 100 U.S. dollars per barrel, rising more than 50 percent from pre-conflict levels. The Dutch TTF benchmark, a key reference for European gas supply contracts, has almost doubled its pre-conflict level.