India, Feb. 28 -- French inflation sunk to the lowest in four years in February due to a notable fall in electricity prices and the economy contracted for the first time since early 2023, official data showed Friday.
Consumer price inflation was 0.8 percent in February compared to 1.7 percent in January, the statistical office INSEE said. This was the weakest since February 2021 and was also below forecast of 1.0 percent.
Likewise, EU harmonized inflation halved to 0.9 percent from 1.8 percent in January. Inflation was seen at 1.2 percent.
Within the overall price index, energy prices plunged 5.7 percent annually, reversing a 2.7 percent gain. Meanwhile, food prices increased at a faster pace of 0.3 percent.
Services inflation softened ...