Inflation slows down in France. According to the preliminary estimate released by the French National Statistical Institute (INSEE) the data, measured by the consumer price index, sees annual growth in March of 2.3% from 3% in the previous month. The figure is lower than the consensus 2.6%. Going into specifics, the decline is mainly due to the slowdown in prices of food products, which recorded +1.7% after +3.6% in February, services, tobacco, energy and manufacturing products.
Inflation also slows on a monthly basis. Also in March, growth of 0.2% is estimated, lower than the +0.5% of the consensus, after +0.8% in January.
The harmonized index, a measure used by the ECB, indicates a trend growth of 2.4%, lower than expected (+2.8%, compared to +3.2% in the previous month). On a monthly basis, there was a change of +0.3% against the expected +0.7% and the previous +0.9%.
Let us remember that France is the fourth largest economy in the world in terms of gross domestic product (GDP), after the United States, Japan and Germany, the second in Europe.
PHOTO: SHUTTERSTOCK
