French inflation quickens less than expected as economy weakens

French inflation quickened less than expected as confidence wanes, remaining well below the European Central Bank’s 2% target and supporting the case for interest rates to be lowered further, Bloomberg said, Report informs.

Consumer prices in the euro zone’s second-largest economy rose 1.7% from a year ago in November, statistics agency Insee said Friday. Analysts surveyed by Bloomberg had anticipated the pace to quicken for a second month, to 1.8%.

The ECB is widely expected to deliver a fourth cut in borrowing costs when it holds its final monetary-policy meeting of the year next month. While there’s been talk of a half-point move following soft economic data, most officials say they prefer gradual steps.