French inflation falls in May to near two-year low of 1.1%

May 29, 2019

PARIS (Reuters) – French inflation slowed more than expected in May to its lowest level in nearly two years, according to preliminary EU-harmonized data from the INSEE statistics agency on Wednesday.

Consumer prices rose 0.2% in May, giving a 12-month inflation rate of 1.1% – the lowest rate since September 2017, INSEE said.

Economists polled by Reuters had an average forecast of 1.2% for May after inflation came in at 1.5% in April.

Separately, INSEE said that producer prices fell 0.6% in April from March, giving a 12-month rate of 2.2%.

(Reporting by Leigh Thomas, Editing by Dominique Vidalon)

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