Inflation & Prices
French Inflation Holds at Record, Defying European Slowdown
- November consumer prices rose 7.1% from year ago; est. 7%
- Data follow lower inflation readings in Germany and Spain
Nov. 28: ECB’s Lagarde Says It Appears We Have Not Reached Peak Inflation
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French inflation unexpectedly remained at a record high in November, defying a slowdown in other parts of the euro zone and weakening calls for the European Central Bank to slow the pace of interest rate increases.
Consumer prices in the currency bloc’s second-largest economy rose 7.1% from a year earlier, matching October’s increase, statistics office Insee said Wednesday. Analysts surveyed by Bloomberg had estimated a 7% rise.