French consumer confidence dips in January over inflation worries

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FILE PHOTO: Paris during the second national lockdown due to the spread of COVID-19 infection

PARIS – French consumer confidence dipped in January, an official statistics survey showed, as concerns over inflation weighed on the euro zone’s second biggest economy.

Consumer confidence slipped to 99 points from 100 in December, the INSEE national statistics body said. Fourteen analysts polled by Reuters had forecast a figure of 98 points for the January consumer confidence reading.

Rising energy prices have led to inflationary pressures across Europe and other major economies.

Oil prices hit seven-year highs last week on worries that supplies could tighten due to Ukraine-Russia tensions. [O/R]

(Reporting by Sudip Kar-Gupta; Editing by Andrew Heavend)