Inflation in France moved faster than expected in May, the highest level since the country began using the EU-harmonized methodology to raise prices in the early 1990s.
In particular, as announced by the country’s statistical service, the harmonized index of consumer prices moved at an annual rate of 5.8% in May, accelerating significantly from 5.4%, while it exceeded the estimates of analysts who expected a measurement at 5.6 in a Reuters survey.
Tackling high inflation is at the top of the Macron’s government’s political agenda, which has promised a new round of post-election precision measures.
France has so far managed to keep inflation lower than the rest of the EU (excluding Malta), thanks to a € 25 billion package that has largely pushed up costly gas and electricity price hikes. energy.
At the same time, annual inflation based on the measurement of the national consumer price index of France, showed an increase to 5.2% in May from 4.8% the previous year, marking a high since September 1985.
The national measure also exceeded the estimate of economists, who expected the average to move to 5% in May.
It is noted that the national index is monitored more closely in France, while the EU harmonized index is used to compare the inflation rate between the countries that use the euro.
Yesterday it was announced that inflation in Germany jumped to a new all-time high in May after the reunification of 8.7%, according to the harmonized index, far exceeding the analysts’ estimate for a rate of 8% and having accelerated rapidly. from 7.8% in April.
Similarly, in Spain inflation also moved to 8.7% in May, from 8.3% in April, while analysts expected that the consumer price index in the country would remain unchanged at 8.3%.
Source: Capital
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