French preliminary inflation at 0.9% in July, slightly above forecast
France's harmonised inflation rate, adjusted for comparison with other euro zone countries, was +0.9% year-on-year in July.
A Reuters poll of 18 analysts had on average expected a rate of +0.8%, with estimates ranging from +0.4% to +1.0%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
13 minutes ago
- Reuters
POLL Indonesia's economic growth likely slowed again in Q2
BENGALURU, Aug 1 (Reuters) - Indonesia's economy likely grew at its slowest pace in nearly four years last quarter as weak household spending weighed on overall growth and offset a boost from exports, according to a Reuters poll of economists. Southeast Asia's largest economy likely grew 4.80% in the April-June quarter from a year earlier, slightly below the 4.87% expansion recorded in the first quarter, according to the July 25–August 1 poll of 26 economists. The government is due to announce the figures on Tuesday. On a quarter-on-quarter basis, gross domestic product (GDP) likely recovered from a 0.98% contraction in the January-March period to 3.70% growth. "Consumer confidence is waning, industrial activity is slowing and youth unemployment remains high. Real retail sales figures have also been weak throughout the second quarter as households remain cautious about spending due to stagnant real wage growth," said Jeemin Bang, associate economist at Moody's Analytics. Indonesia's Retail Sales Index contracted 0.3% in April but rose a modest 1.9% in May, indicating subdued household consumption. The government announced an over 24 trillion rupiah ($1.5 billion) fiscal stimulus package in June that included cash handouts and transport subsidies to stoke demand. Meanwhile, exports rose 11.29% in June, extending a positive trend throughout the second quarter as firms accelerated shipments ahead of a proposed 32% U.S. tariff which was later revised to 19%. Still, Bang cautioned that although only 10% of Indonesian exports go to the U.S., indirect effects from tariffs on other key trading partners and a weakening global outlook are likely to weigh on growth in the months ahead. Responding to softening domestic demand and sluggish global trade, Bank Indonesia cut interest rates last month. Governor Perry Warjiyo said the central bank would assess if there was room for further easing. A separate Reuters poll conducted in July showed economic growth in Indonesia would average 4.8% in 2025, near the lower end of the central bank's forecast range of 4.6% to 5.4%. That remains well short of the 8% annual growth target President Prabowo Subianto has pledged to achieve during his five-year term, which began last year. ($1 = 16,488 rupiah)
Reuters
43 minutes ago
- Reuters
Singapore's GIC to take 25% stake in Spanish broadband venture, FT reports
Aug 4 (Reuters) - Singapore's sovereign wealth fund GIC is set to take a 25% stake in a fibre optic broadband venture between MasOrange and Vodafone Spain, the Financial Times reported on Monday, citing people familiar with the matter. GIC's investment in the company will be announced as soon as Monday, the report said, adding that its stake would be worth about 1.4 billion euros ($1.6 billion). The deal comes after Zegona Communications (ZEG.L), opens new tab unit Vodafone Spain agreed in January to create the new fibre network company in Spain with MasOrange, with London-listed Zegona expected to hold 10% of the venture. The parties at the time of the announcement of the deal were also looking for an investor for the new venture who was expected to hold 40% of the business. Reuters could not immediately verify the FT report. GIC, Vodafone Spain, Zegona and MasOrange did not immediately respond to Reuters' requests for comment. Zegona acquired Vodafone Spain in a 5 billion euro deal last year, as part of Vodafone Group's (VOD.L), opens new tab exit from its Spanish operations. ($1 = 0.8634 euros)
Daily Mail
43 minutes ago
- Daily Mail
Liz Truss accuses Kemi Badenoch of not telling the truth about Tory failures as former PM hits back at Conservative leader over her mini-budget criticism
Liz Truss has accused Kemi Badenoch of 'repeating spurious narratives' rather than telling the truth about Tory failures. The former prime minister said she believes the Tory Party will be in 'serious trouble' unless it starts to admit failures over the economy and human rights during its last spell in government. It follows Mrs Badenoch's remarks that Sir Keir Starmer and Rachel Reeves were making 'even bigger mistakes' than Ms Truss had in her mini-Budget in September 2022 – a month before she quit No 10. 'It is disappointing that instead of serious thinking like this, Kemi Badenoch is instead repeating spurious narratives,' Ms Truss wrote in the Telegraph. 'I suspect she is doing this to divert from the real failures of 14 years of Conservative government in which her supporters are particularly implicated.' She described as 'a fatal mistake' the decision not to repeal Labour legislation including the Human Rights Act, accusing modernisers of wanting to be 'heirs to Blair'. She also took aim at Michael Gove and Dominic Cummings, saying that 'draconian lockdowns' caused huge damage, adding that the economy 'was wrecked with profligate Covid spending' by then chancellor Rishi Sunak. The war of words risks sparking a row within the party, Ms Truss added that the 'huge increase in immigration has been a disaster'. Mrs Badenoch previously kept criticisms of Ms Truss private, telling her shadow cabinet in January that it would be helpful if her predecessor made fewer interventions. But on Saturday she made her first major public criticism of the ex-Tory prime minister, saying Labour had not learnt the lessons of the mini-budget. She said the bond markets are 'increasingly jittery about the levels of borrowing today', and warned that the 'mismanagement' of the economy will have 'real consequences' on workers. Writing in The Telegraph, she said: 'For all their mocking of Liz Truss, Keir Starmer and Rachel Reeves have not learnt the lessons of the mini-budget and are making even bigger mistakes. 'They continue to borrow more and more, unable and unwilling to make the spending cuts needed to balance the books.' Ms Truss hit back at the comments, saying it was Mrs Badenoch who had not learned the lessons of the mini-budget. She tweeted: 'Kemi has not learned the lessons of the Mini Budget, which is that when Conservative MPs fail to back tax cuts, fracking and welfare restraint, they get booted out of office. 'The Bank of England has since admitted that two thirds of the market movement in 2022 was down to their failure to regulate pensions properly. 'Kemi Badenoch needs to do the work and actually analyse what happened in 2022 and hold the Bank of England to account.' The weeks following Ms Truss's mini-budget saw adverse market reaction and mortgage costs soar. She was ejected from office after just 49 days - becoming Britain's shortest-serving prime minister. Since entering office, Labour has been highly critical of Ms Truss's handling of the economy. Ms Truss hit back at the comments, saying it was Mrs Badenoch who had not learned the lessons of the mini-budget. At the start of this year, the ex-PM's lawyers sent a letter to No10 insisting Sir Keir's claim that she 'crashed the economy' is defamatory. But Downing Street said the PM would not soften his language about Ms Truss's premiership. Sir Keir's official spokesman said at the time: 'There's only so much I can talk about previous administrations, but you've got the Prime Minister's language which he absolutely stands by in relation to the previous government's record, and you don't have to take it from the Prime Minister.
