France May preliminary CPI +0.7% vs +0.9% y/y expected

• Prior +0.8%
• HICP +0.6% vs +0.9% y/y expected
• Prior +0.9%

That’s a softer set of readings than expected, with services inflation in particular seen easing. That dropped from 2.4% in April to 2.1% in May and that will feed into the core estimate further. Although, core annual inflation was already on the lower side for France at 1.3% last month.

This article was written by Justin Low at www.forexlive.com.