The second-largest economy in the Euro Zone continues to experience rising inflation in June.
Inflation increased to 6.5 percent yearly from 5.8 percent annually in June, according to figures released by the French Statistics Agency, due to the sharp rise in energy and food prices. The Bloomberg survey’s panel of economists likewise leaned in this direction.
Compared to the expected 0.9 percent increase, inflation jumped by 0.8 percent monthly.
The second-largest economy in the Euro Zone, France, has released a number that might heat discussions about the ECB raising interest rates by more than 25 basis points in July.
According to data released yesterday, inflation in Spain reached double digits at 10%, but it was less than anticipated in Germany.
One of the nations that could partly contain inflation was France, whose government spent roughly 25 billion euros to reduce the rise in energy prices. Nevertheless, despite these efforts, the country’s rising inflation had a toll on consumer confidence and the economy.