France: Harmonized inflation drops in June
Harmonized inflation came in at 2.5% in June, which was down from May’s 2.6%. Looking at the details of the release, prices for food and transport grew at a more moderate pace in June, while housing and utilities price pressures accelerated.
Accordingly, the trend pointed down slightly, with annual average harmonized inflation coming in at 3.8% in June (May: 4.0%). Meanwhile, consumer price inflation edged down to 2.2% in June from the previous month’s 2.3%, but was slightly above market expectations.
Finally, harmonized consumer prices increased 0.15% in June over the previous month, mirroring May’s reading.