France: Inflation tumbles in May
On 14 June, the Statistical Institute (INSEE) reported that consumer prices rose 0.1% month-on-month in May (April: +0.3% month-on-month). Services prices fell from April, which helped offset a marked rise in food costs. Meanwhile, fuel costs rose at a slower pace than in April.
Inflation fell to 0.9% from 1.3% in April, while core inflation landed at 0.5% (April: 0.7%). Annual average inflation, meanwhile, ticked down to 1.7% from 1.8%.
Harmonized consumer prices rose 0.1% month-on-month in May, down from 0.4% in April, while harmonized inflation slid to 1.1% from 1.5% in April. Lastly, annual average harmonized inflation ticked down to 1.9% from 2.0%.