PARIS, April 29 Reuters French inflation rose unexpectedly in April to hit a record high driven by surging energy prices, preliminary EUharmonised data showed on Friday, putting fresh pressure on newly reelected President Emmanuel Macron.
The INSEE statistics agency said consumer prices rose 0.5 in April, for a 12month inflation rate of 5.4, up from 5.1 in March and hitting the highest rate since France began using European Union methodology to calculate the readings in the early 1990s.
The increase, boosted by 26.6 yearonyear increase in energy prices but also a pickup in prices for services and manufactured goods, beat average expectations in a Reuters poll of 17 economists for inflation to remain unchanged.
The surge is bad news for Macron as he prepares for legislative elections next month, after winning a second term this month in a presidential ballot that was in large part fought over voters39; concerns around high inflation eroding their purchasing power.
Macron39;s government has so far managed to keep inflation below the euro zone average thanks to a 25 billion euro 26.3 billion package to help consumers cope with rising price pressures largely through caps on gas and power price increases.
INSEE said annual inflation as measured by France39;s national consumer price index rose to 4.8 in April from 4.5 in March, hitting its highest since November 1985. Economists polled by Reuters had expected 4.5 on average in April.
The national index is more closely…