France June preliminary CPI +4.5% vs +4.6% y/y expected

<ul><li>Prior +5.1%</li><li>HICP +5.3% vs +5.4% y/y expected</li><li>Prior +6.0%</li></ul><p>That's a positive development on the face of it but a lot of that still has to do with higher energy prices being phased out. If you look at the breakdown, food prices are still 13.6% higher than they were in June last year. So, there is that to keep in mind as the core inflation reading later in the euro area is also expected to keep on the high side.</p>

This article was written by Justin Low at www.forexlive.com.