French inflation falls in May to near 2-year low of 1.1pc

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

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

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

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