Inflation in France unexpectedly edged lower in December from a record high a month earlier, helped by slowing energy price rises, official data showed on Wednesday, offering hope the worst of the inflation crisis may be over.
The inflation rate fell to 6.7% in December, according to preliminary EU-harmonised data from the national statistics office INSEE. That was down from 7.1% in November and below the average forecast for 7.2% in a Reuters poll of economists' expectations.
Finance Minister Bruno Le Maire told France Inter radio that inflation would see a downward trend over the course of 2023. He has previously said inflation would remain high until mid-year before falling back. "Nonetheless, the favourable moves in energy prices suggest there may be light at the end of the tunnel," said economist Sylvain Bersinger with consultancy Asteres.
INSEE said in a separate report on Wednesday that its consumer confidence index fell marginally last month to 82 from 83 in November, well below the long-term average of 100.
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