French inflation slows faster than expected in May


PARIS, June 14 (Reuters) - French monthly inflation slowed faster than expected in May, thanks largely to a fall in service sector prices which offset a marked acceleration in food prices, final EU-harmonised data from the INSEE statistics agency showed on Friday.

Consumer prices rose 0.1% compared to April to give a 12-month inflation rate of 0.9%. The final May figure was below forecast (1.1%) and below April's revised rate of 1.3%.

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.

This article appears in: Stocks , World Markets , Economy

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