Inflationary pressures in the French economy continued unabated at the start of the year as consumer price inflation and the EU harmonized rate accelerated in January and producer price growth remained strong, even as the economy narrowly escaped a recession in the fourth quarter, thus validating the tightening stance of the European Central Bank that is set to hike rates further this week.
The consumer price index rose 6.0 percent year-on-year following a 5.9 percent rise in December, preliminary figures from the statistical office INSEE showed Tuesday. Economists had expected 6.1 percent inflation.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Jyotsna V
For comments and feedback: contact editorial@rttnews.com