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France's annual inflation rate slows to 5.9 pct in December

Europe Materials 5 January 2023 08:20
Trend News Agency
France's annual inflation rate slows to 5.9 pct in December

The consumer price index (CPI) in France eased to 5.9 percent year-on-year in December 2022 from 6.2 percent in November, the French National Institute of Statistics and Economic Studies (INSEE) said in a preliminary report on Wednesday, Trend reports citing Xinhua.

The decrease in inflation was due to "a slowdown in energy prices and, to a lesser extent, service prices."

Energy prices are estimated to have risen by 15.1 percent, after an 18.4 percent increase in November.

In December, the share of households that expected prices to accelerate over the next twelve months also increased.

Economy and Finance Minister Bruno Le Maire said in October that the government aims to bring down France's annual inflation rate to 5 percent by the beginning of 2023.

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