French Inflation Breaks Yet Another Record

 

In May, consumer prices in the eurozone’s second-largest economy increased 5.8 percent year on year, matching the median estimate of economists polled by Bloomberg, as rising energy and food prices continued to trickle down to other goods and services.

Following strong readings in Germany and Spain, French inflation accelerated to another all-time high, putting pressure on the European Central Bank to raise interest rates more aggressively. 

With data from Germany and Spain already exceeding expectations this week, the French figures point to an overshoot when the eurozone reports inflation figures later Tuesday.

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