France’s April CPI holds at 2.2% year-over-year
France’s consumer price index for April remained steady at 2.2% year-over-year, matching the preliminary reading.
The prior month’s reading was 1.7%. The HICP, or harmonized index of consumer prices, also held at 2.5% year-over-year, unchanged from the preliminary estimate.
The steady inflation reading comes as global markets continue to see high volatility, with the S&P 500 surging 8% year-to-date on 27% earnings growth.
The price-to-earnings ratio for the S&P 500 is at 19.6, its lowest since November 2023, indicating strong market fundamentals.