Inflation Picks Up In France As Recession Risks Mount
French inflation increased to 2.4% in May, up from 2.2% in April and 1.7% in March, primarily due to rising energy prices. The inflation trend suggests that price growth may continue in the upcoming months, complicating the economic landscape. The government's growth target of 0.9% for the year now seems unattainable, with a more realistic estimate being around 0.6%.
- ▪French inflation rose to 2.4% in May from 2.2% in April.
- ▪The increase in inflation is mainly driven by higher energy prices, which are up 16.8% year-on-year.
- ▪The government's growth target of 0.9% for this year appears to be out of reach.
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