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2d ago

France’s Inflation Edges Up to 0.9% as ECB Delivers Eighth Rate Cut

Central bankers say oil market swings may shape future policy after service-driven inflation rose to 0.9 percent in June.

L’inflation en France a augmenté de 0,9 % en juin sur un an, indique l’Insee. Une légère accélération par rapport à mai (0,7 %) mais un score qui reste historiquement bas depuis quatre ans.
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Overview

  • France’s year-on-year inflation rose to 0.9% in June from 0.7% in May, according to provisional INSEE figures.
  • Consumer prices climbed 0.3% month-on-month in June, propelled by faster-rising service costs in accommodation, health and transport.
  • The eurozone’s harmonized index of consumer prices increased by 0.8% year-on-year in June, up from 0.6% in May.
  • The European Central Bank cut its deposit rate to 2% for the eighth consecutive time as broader eurozone inflation remained subdued.
  • Banque de France Governor François Villeroy de Galhau warned that oil price volatility linked to Middle East tensions could influence upcoming ECB rate decisions.