France's food-price inflation to ease off by September, minister says

Kitco Media
By Reuters
Published:
Updated:
Reuters

PARIS, April 30 (Reuters) - Food price inflation in France - which has been a major concern for consumers - should ease off by September, said government minister Olivia Gregoire on Sunday.

"By the time people come back from their holidays in September, we will have a visible decrease in the prices you see on the shelves and in terms of food price inflation," Gregoire, who is a government minister responsible for small-and-medium sized enterprises (SMEs), told France Inter radio.

Gregoire's comments echoed those from Bank of France governor and European Central Bank member Francois Villeroy de Galhau, who said earlier this month that he expected food price inflation to start easing in the second half of this year.

Data published on April 28 showed the French economy grew 0.2% in the first quarter, despite strikes against the government's pension reform bill, but inflation remained stubbornly high.

France's headline inflation level rose to 5.9% in April from 5.7% in March. The French inflation level stood at 6.9%, as measured by a European Union-harmonised consumer price index.

Reporting by Gilles Guillaume; Editing by Sudip Kar-Gupta
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.