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Financial News: France Inflation Accelerates As Estimated In May

France Inflation Accelerates As Estimated In May

06/15/2022 - 07:53:00 (RTTNews)

(RTTNews) - France's consumer price inflation accelerated as initially estimated in May amid soaring energy prices, final data from the statistical office Insee showed on Wednesday.

The consumer price index rose 5.2 percent year-over-year in May, faster than the 4.8 percent rise in April. The rate was in line with the flash data published on May 31.

Energy prices alone surged 27.8 percent annually in May due to rising petroleum product prices.

Food prices were 4.3 higher in May compared to last year and costs of services showed an increase of 3.2 percent.

On a monthly basis, consumer prices went up 0.7 percent in May, which was revised up from a 0.6 percent rise seen in the flash report. In April, prices climbed 0.4 percent.

The EU measure of inflation, or the HICP, rose at a faster rate of 5.8 percent yearly in May, following a 5.4 percent gain in the prior month. The latest figures match the initial estimate.

Month-on-month, the harmonized index consumer prices increased 0.8 percent, after rising 0.5 percent. According to flash estimate, the monthly increase was 0.7 percent.

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