French inflation eases to its lowest level in a year
French inflation is falling to 6% – its lowest level in a year – as energy and food prices cool
French inflation has reached its lowest level in a year as energy and food prices in the country have cooled.
Prices rose 6 percent in May, up from 6.9 percent in April and lower than many had predicted.
Energy costs rose only 2 percent, compared to 6.8 percent in April. Food prices fell from 15 percent to 14.1 percent in May.
Food inflation in France fell from 15% in April to 14.1% in May
The drop is expected to support the argument that the European Central Bank does not need to raise interest rates further in its fight to contain inflation.
Last month it raised interest rates in the eurozone for the seventh time in a row, by 0.25 percentage point to 3.25 percent.
The case for tapering the increases was bolstered by data from Germany, where inflation in May fell from 7.6 percent in April to 6.3 percent.