By Joshua Kirby
Consumer prices rose less strongly in France this month, adding to signs the European Central Bank could move to cut interest rates again in the coming months.
Total prices were on average 2.5% higher in June than in the same month last year, easing from 2.6% in May, EU-harmonized data from French statistics agency Insee showed Friday. This was in line with economists' projections and reverses a slight upsurge in May that bucked a generally lower trend in French inflation this year.
An easing of price rises in food and energy was largely behind June's decline in inflation, Insee said.
It comes after the European Central Bank moved to lower interest rates at the beginning of this month, starting an expected cycle of lower rates that could continue at the bank's next meeting in July if inflation trends lower across the eurozone.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
06-28-24 0259ET
