June 30, 2022 06:58 GMT
FRANCE JUNE FLASH CPI +0.7% M/M, +5.8% Y/Y; MAY +5.2% Y/Y
FRANCE JUNE FLASH HICP +0.8% M/M, +6.5% Y/Y; MAY +5.8% Y/Y
- French inflation continued to climb in June, up 0.6pp on the headline CPI print at +5.8% y/y. This is a 0.1pp beat of forecast expectations, reaching the highest annual rate since September 1985.
- The harmonised print saw a larger 0.7pp jump as forecasted. The acceleration in energy and food prices were once again the key upwards drivers, energy increasing 33.1% y/y (up from 27.8%) and food by 5.7% y/y (up from 4.3% in May). Manufacturing price growth saw the only slowing upwards pressure.
- With Eurozone inflation prints beginning to diverge, following the German downside surprise and Spanish upside beat seen yesterday, the ECB will be focused on the aggregate Euro area print due Friday.
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