FX.co ★ France finally sees inflation slow down

France appears to be emerging from its inflationary crisis, according to Finance Minister Bruno Le Maire, signaling a potential uplift for the French economy. Le Maire's optimistic remarks are inspiring, bringing hope to both ordinary citizens and political figures who are rallying behind France's economy. The inflationary crisis, which began in late 2021, is now nearly resolved, Le Maire asserts. However, efforts to reduce prices are ongoing. This optimism comes at a time when the global inflation crisis seems to be receding. Notably, it took the French authorities almost two years to bring consumer prices down. Le Maire expresses some concern over food prices, noting that they are unlikely to return to levels seen two years ago, but some reduction in costs is anticipated. He forecasts inflation to decrease to 2.6% by 2024. Amid galloping inflation recorded this August, French consumers significantly cut back on food purchases. Thus, analysts estimate a remarkable 11.4% drop since late 2021, the most substantial in over 30 years, as noted by France's National Institute of Statistics (Insee). In August, food prices in France soared by an impressive 15.8%, while the cost of industrial goods increased by 4.8%.