Tuesday, 30 May, 2023

French inflation slows in March

PARIS: French inflation slowed in March, official data showed Friday, joining other eurozone countries in reporting an easing of price increases.

Inflation reached 5.6 percent year-on-year in March, down from 6.3 percent in February, according to the INSEE statistics institute, reports AFP.

An easing of energy prices helped to bring down inflation in the eurozone's second-biggest economy, but food prices jumped by 15.8 percent.

In Germany, Europe's biggest economy, price growth eased to 7.4 percent in March from 8.7 percent in the first two months of the year, official data showed on Thursday.

The drop was even sharper in Spain, with inflation easing to 3.3 percent after six percent in February.

March inflation for the 20-nation eurozone will be published later on Friday.