The French authorities do not expect an improvement in the inflation situation until 2023

View of Paris. Archive photo

The inflation situation in France will not improve early 2023, said Wednesday the Minister of economy and Finance Bruno Le Mayor.

“We should not expect improvement in the inflation early 2023…But today we are not on the agenda of a scenario in which inflation in France, can become a double-digit,” said Le Mayor, the TV channel France 5.

In early June, the Finance Minister of France declared that the country is at the peak of inflation: then in may, the annual increase in the General level of prices for goods and services amounted to 5.2%. In July the annual inflation rate in France increased even more – to 6.1%, the highest level since July 1985.

The trade deficit France reached a new record in 71 billion euros due to a sharp rise in energy prices and inflation.