French inflation slows faster than expected in May - INSEE

PARIS: French inflation slowed faster than expected in May, coming in at 0.1% month-on-month compared with a revised 0.3% in April, final EU-harmonised data from the INSEE statistics agency showed on Friday.

The slowdown in the monthly rate left the 12-month inflation rate at 0.9% from a revised 1.3% in April. The annual rate was below a forecast for 1.1%.

The European Central Bank (ECB) has a target for inflation within the euro zone bloc at just below 2%, although faltering economic growth in the region has resulted in euro zone inflation consistently coming in below the ECB's target.