French inflation has fallen faster than forecast to its lowest level since July 2021, while price growth also undershot expectations in Italy to boost hopes that the European Central Bank will cut interest rates soon.
On a month-on-month basis, inflation in the Eurozone’s second-largest economy slowed from 0.9 per cent to 0.3 per cent. French central bank governor François Villeroy de Galhau said in a speech on Thursday that the ECB could even cut rates at its next meeting, on April 11, if inflation kept falling faster than forecast and the economy remained mired in stagnation.
The annual growth of consumer prices in the 20 countries that share the euro slowed to 2.6 per cent in February, bringing it closer to the ECB’s 2 per cent target.
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