The year-on-year consumer price index (CPI) in France stood at 4.5 percent in June, making it the first time that the country’s inflation stays below the 5 percent benchmark since April 2022, according to a preliminary report released by the French National Institute of Statistics and Economic Studies (INSEE) on Friday.
The CPI in France already slowed to 5.1 percent in May from 5.9 percent in April.
« This further decrease in inflation should result from a downturn in energy prices and a slowdown in food prices, » the INSEE explained.
In the provisional estimation, the INSEE noted that the prices of energy in France should have decreased by 3 percent in June, compared with a 2 percent increase in May.
The pace of food price hikes in France should continue to slow down and reach 13.6 percent in June, after a 14.3 percent increase in May and a 15 percent increase in April.
Earlier this week, French economy minister Bruno Le Maire told local radio that France is « winning the fight » against rising prices, but the prices will not return to the « very low » or even zero inflation level as before the COVID-19 pandemic.
