CAC 40 Drifts Lower Before Elections
(RTTNews) - French stocks traded lower on Friday ahead of the upcoming parliamentary elections. The latest polls show a first-round national election win for far-right parties.
Meanwhile, France's consumer price inflation eased in June to the lowest level in nearly three years amid a slowdown in costs for food and energy, a provisional estimate from the statistical office INSEE showed.
The consumer price index climbed 2.1 percent year-over-year in June, following a 2.3 percent rise in the previous month.
Further, this was the weakest inflation since August 2021, when prices had risen 1.9 percent.
EU-harmonized inflation eased slightly to 2.5 percent from 2.6 percent in the prior month.
A separate official report showed that producer prices declined for the sixth straight month in May.
The benchmark CAC 40 was down 30 points, or 0.4 percent, at 7,501 after dropping 1 percent the previous day.
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