French inflation in June hit record high of 6.5%

© Reuters. FILE PHOTO: A woman shops at a fruit and vegetables shop in Paris, France, June 10, 2022. REUTERS/Sarah Meyssonnier

PARIS (Reuters) – French inflation climbed further from the previous month to a record high of 6.5%, according to official preliminary figures on Thursday, adding further headwinds to the euro zone’s second-biggest economy.

The INSEE statistics agency said prices in June had risen by 0.8% from May, and that 12-month June preliminary inflation stood at 6.5%. Analysts polled by Reuters had forecast preliminary annualised inflation in June at 6.3%.

INSEE said food and energy prices had risen sharply due to disruption resulting from Russia’s invasion of Ukraine.

French President Emmanuel Macron’s government is under pressure as a result of the higher living costs, while the European Central Bank has flagged it will raise rates in July and September to try and tackle the rising inflation.

by : Reuters

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