Inflation in France slowed down to 1% in May, consumer spending rose above forecasts


In May, consumer prices in France, according to national standards, increased by 1% from the same month a year earlier, a preliminary assessment of Insee statistics showed. Compared with the April price increase of 1.1%, annual inflation slowed down in May. Forecast of the economists suggested growth rate of 1.1%, as well as in April. Regarding the previous month, a 0.2% price increase was recorded, with a 0.3% increase predicted by economists. The annual increase in food prices was 2.3%. Energy prices rose by 3.4% over the year, services - by 0.7%. Tobacco products showed the jump in prices by 9.1%. The annual inflation rate, according to EU standards, was at the level of 1.1%, with experts forecast at 1.2%. Compared to the previous month, prices rose by 0.2%, not reaching the expected 0.3% increase. The Insee consumer spending report showed a 0.8% increase in April against a 0.3% drop in March. Over the year, the figure rose by 1.2%, surpassing the increase expected by economists.

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