France’s inflation rate dropped further below the European Central Bank’s 2% target, reaching a more than four-year low and adding to arguments that borrowing costs can be cut further.
Consumer prices rose 0.6% from a year ago in May, the weakest pace since December 2020, as energy costs sank. Analysts surveyedby Bloomberg had estimated a 0.9% advance, matching April’s result.
The subdued data reflect a wider pullback across the 20-nation euro zone, with May readings from the region’s biggest economies all expected to come in below the ECB’s goal for the first time in eight months. ...
