Food inflation slowed down in France and accelerated in Spain

In France, the growth rate of food prices decreased, with a year-over-year increase of just 1.2% in April, down from 1.3% in March. Energy prices, however, accelerated to a growth of 3.8%. Prices for processed industrial goods dropped by 0.1% in April. The services prices remained stable with a 3% increase.

In Spain, prices for food and non-alcoholic beverages rose at an accelerating pace. The core inflation rate, which excludes food and energy prices, fell to 2.9%, marking the lowest level since January 2022. The Harmonized Index of Consumer Prices (HICP) showed an annual increase of 3.4%.

Both countries’ data are comparable through the EU-targeted HICP index, which indicated a 2.4% annual increase for France and a 3.4% increase for Spain in April.