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French monthly harmonized inflation revised higher to 0.5% in May

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French monthly harmonized inflation revised higher to 0.5% in May

EU-harmonized monthly inflation in France accelerated to 0.5% in May, higher than a preliminary estimate of 0.4% and up from the 0.2% increase in April, according to the country's National Institute of Statistics and Economic Studies.

Annual harmonized inflation increased by 2.3% in May after rising by 1.8% in April, in line with the initial estimate and above the European Central Bank's target of just under 2% for the eurozone.

France's own consumer price index increased by 0.4% month over month in May after rising by 0.2% in April as prices of energy, food and manufactured products picked up.

On a year-over-year basis, consumer prices rose by 2.0% in May because of a sharp increase in energy prices and higher food and services prices.

Core inflation increased by 0.2% in May from the previous month. Year on year, core inflation increased to 1.0% in May from 0.8% in April.