French Finance Minister: the high inflation of 2022 is here to stay

Inflation will be high in 2022 and is here to stay although it will decline progressively over the course of 2023, French Finance Minister Bruno Le Maire told BFM TV on Friday. Russia's invasion of Ukraine has contributed to a sharp rise in energy prices, which in turn has exacerbated inflationary pressures across the global economy.

The headline French inflation figure stood at 5.1% in March, while eurozone inflation in March was marginally lower than earlier reported but still at record highs because of a surge in the cost of energy.