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French Finance Min Says Crude Has Led Inflation, Eyes Oil Companies
PARIS (Dow Jones)–French inflation, which rose 2.6% on the year in December according to the country’s statistics office, was largely driven by oil prices, Finance Minister Christine Lagarde said Tuesday, who promised to keep a close eye on a price pledge by oil companies.
The latest inflation statistics “essentially reflect the influence of the recent explosion in oil prices on the international markets,” according to a statement from Lagarde’s office.
According to the statement, Lagarde “reaffirms her strengthened vigilance as to oil companies’ respect for their commitment, made on Nov. 10,” not to pass on oil prices immediately to consumers and to “smooth out” spikes in the price.
The December inflation figures, released earlier Tuesday, bring the acceleration of inflation in the fourth quarter to record levels, BNP Paribas’ economist Mathieu Kaiser said.
One Comment on "French Finance Min Says Crude Has Led Inflation, Eyes Oil Companies"
Stumble guys on Mon, 20th Mar 2023 8:57 pm
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