French FinMin Le Maire: Inflation in 2022 should be around 5%

Dhwani Mehta FXStreet

French Finance Minister Bruno Le Maire is out on the wires now, via Reuters, making some comments on the inflation outlook, which is the key area of concern for euro area policymakers.

Key quotes

Inflation in 2022 should be around 5%.

We are amid an inflation peak at the moment.

Inflation will continue to rise in the next weeks.

Inflation will ease over 2023.

Confirms 3.5% rise of social welfare payments due to inflation.

I welcome EDF, Engie and TotalEnergies jointly calling for reducing energy consumption in current context.

We are already discussing potential energy cuts to businesses, but we have not yet reached that point.

Market reaction

The shared currency is unfazed by these comments, with EUR/USD keeping mild gains near 1.0560 amid the ongoing US dollar weakness.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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