French Inflation At 15-Month High

France's consumer price inflation accelerated to a 15-month high in May, as initially estimated, final data from the statistical office Insee showed on Tuesday.

Consumer price inflation rose to 1.4 percent from 1.2 percent in April. A similar higher rate was last reported in February 2020. The rate came in line with the estimate published on May 28.

The annual growth was largely driven by an 11.7 percent rise in energy prices. The decline in manufactured good prices softened to -0.1 percent. Food prices dropped again by 0.3 percent.

The harmonized inflation accelerated to 1.8 percent in May, as estimated, from 1.6 percent in April.

On a monthly basis, consumer prices advanced 0.3 percent, following a 0.1 percent rise in April. Monthly inflation also matched preliminary estimate.

At the same time, the harmonized index of consumer price inflation climbed to 0.3 percent from 0.2 percent in April. The monthly rate was revised down from 0.4 percent.

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