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MNI: FRANCE DATA: Flash Inflation (May 2019).........>

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MNI: FRANCE DATA: Flash Inflation (May 2019)
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- HICP: 0.2% m/m, 1.0% y/y; Previous (Apr): 0.4% m/m, 1.3% y/y
- CPI: 0.2% m/m, 1.1% y/y; Previous (Apr): 0.3% m/m, 1.5% y/y
- As expected, consumer price inflation moderated in May, as the Easter-related
effects that temporarily boosted prices in Apr started to unwind
- CPI inflation declined on a y/y basis across most components: food (2.3% from
2.5% in Apr), energy (3.4% from 4.8% in Apr), manufactured products (-0.6% from
-0.5% in Apr) & services (0.7% from 1.0% in Apr)...
- ... with the exception of tobacco, where inflation picked up by 1pp to 9.1%
- Going forward, energy should continue to weigh on the headline rate while soft
underlying price dynamics should keep core inflation subdued

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