French Inflation Slows to 2% in June as Energy Prices Fall
Updated
Updated · Bloomberg · Jun 30
French Inflation Slows to 2% in June as Energy Prices Fall
2 articles · Updated · Bloomberg · Jun 30
Summary
France’s EU-harmonized inflation rate cooled to 2% in June from 2.8% in May, marking the biggest retreat in more than a year.
Energy costs drove the slowdown, the first easing since the Iran war began, and the drop was sharper than economists expected in a 2.3% median forecast.
Insee’s separate national CPI measure showed annual inflation at 1.8%, with food and services prices also decelerating alongside energy.
The weaker price pressure eases immediate pressure on the European Central Bank to keep raising interest rates in the euro area’s second-largest economy.