French inflation turns negative for first time since 2009

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French consumer prices in January fell year-on-year by 0.4%, with energy costs dropping 7.1% and prices of manufactured goods down 1.4%.

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French year-on-year inflation turned negative for the first time in more than five years in January, EU-harmonised data released on Thursday by the INSEE national statistics office showed in a report which pointed to a growing risk of deflation in the eurozone's second largest economy, reports The Business Times.