Annual inflation in France accelerated to 2% in May

Investing.com – Consumer prices in France in May 2018, calculated by French standards, rose by 2% in annual terms after an increase of 1.6% in April, preliminary data from the National Statistical Office Insee.

Relative to the previous month, prices increased by 0.4%.

Experts interviewed by the agency Bloomberg, on average, predicted inflation at 1.9% in annual terms and 0.3% in the monthly.

The cost of food in France this month rose by 1.7% in annual terms, industrial goods fell by 0.2%. Energy grew in price by 10%. Services have become more expensive by 1.4%. Fresh products have risen in price by 4.9%. Prices of tobacco products jumped by 16.1%.

Consumer prices, harmonized with the standards of the European Union, increased this month by 2.3% in annual terms after an increase of 1.8% a month earlier. The May inflation rate became the highest since August 2012 and for the first time in these six years exceeded the level targeted by the European Central Bank (just below 2% per annum). For a month, inflation was 0.4%.

Analysts on average predicted inflation at 2.1% in annual terms and 0.3% in monthly terms.