French Inflation Drops in May on Energy Prices, Stalling Growth
France’s inflation rate declined for a third month in May, helped by lower energy prices as economic growth slowed.
Consumer prices rose 2.3 percent from a year earlier based on European Union methodology, compared with a 2.4 percent increase in April, the Paris-based national statistics office, Insee, said today. Economists forecast a 2.3 percent gain, the median of 15 estimates in a Bloomberg News survey showed.
A 26 percent drop in London crude oil prices this year is combining with slowing growth to ease price pressure on households. Energy prices fell 1.5 percent in May from April, with oil products dropping 2.5 percent.
“The price of energy and transport services and communications is falling,” Insee said. “Food prices are up.”
To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net
To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.