French inflation accelerated to the highest in more than 12 years in May on rising energy and food costs. French Eu harmonised consumer prices rose by an annual 3.7 percent, as compared with a rate of 3.4 percent in April, according to data from Insee, the national statistics bureau, today in Paris. The inflation rate in May was the highest since 1996, when Insee began reporting the data. Prices rose 0.6 percent from April.
French household spending on manufactured goods fell 0.8 percent in April from March, the third decline in four months, and consumer confidence dropped to a record low last month, suggesting that economic growth is slowing this quarter.
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