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France’s annual inflation rate held at 1.4 per cent this month, with signs that price rises in other big eurozone economies are cooling down to match.
Having falling back to 1.4 per cent in February, inflation in the eurozone’s second largest economy is now in line with Germany where price growth tumbled from 2.2 per cent to 1.5 per cent this month.
France’s harmonized monthly inflation still accelerated by 0.7 per cent in March from 0.2 per cent in the month prior, according to stats office Insee.
In a breakdown of the inflation basket, Insee revealed a 9.9 per cent hike in energy costs, 4.5 per cent jump in fresh food and a 1 per cent climb in services.
The overall subdued pace of inflation should ease an emerging headache for policymakers at the European Central Bank, who have come under pressure to exit their landmark stimulus measures after two years.
We’ll be getting the eurozone-wide figures later this morning (10.00am BST), where economists are forecasting prices to slip from 2 per cent growth to 1.7 per cent.