Inflation in France falls more than expected to its lowest level in one year
France’s inflation rate eased in May to 5.1%, the lowest level in 13 months. The number was much lower than analysts expected.
bloomberg
France’s consumer price index (CPI) fell more than expected in May, coming in at 5.1%, the lowest value since April last year, according to rapid estimates released Wednesday by INSEE, the Gallic statistical institute.
That figure is far below the 5.9% recorded in April and the 5.5% expected by economists polled by Reuters.
In terms of series variance, CPI fell 0.1%, when economists had expected a 0.3% increase.
This decline was driven by a strong slowdown in the annual change in energy prices (which fell from 6.8% in April to 2%). In food products, the slowdown was more moderate: 14.1% in May versus 15% in April.
The Harmonized Index of Consumer Prices (HICP), which allows comparison with other EU countries, fell nine-tenths to 6%.
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