French inflation slows unexpectedly in September as ECB considers interest rate hikes

According to the French statistical office (Insee), inflation in France has slowed unexpectedly.

According to Insee, the French consumer price index (CPI) rose 6.2% year-on-year in September, compared with 6.6% in August.

French inflation data slowed after an unexpected drop in inflation in Spain, while inflation in Germany and the Netherlands jumped to 17.1%.

The ECB is still considering further interest rate hikes to keep pace with the rising U.S. dollar.

The French central bank governor says the ECB must act in an orderly fashion to control rising inflation by expanding its scope beyond energy prices.

French inflation shows energy and service costs slowing, while food costs rise. Consumer spending was unchanged in August compared with July. This is due to the fact that the increase in manufacturing products was offset by the decline in food prices.

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