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reaffirms inflationary peaks to last several more months -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Bruno Le Maire, Finance Minister arrives at Paris’ Elysee Palace on May 4, 2022 to meet with President Emmanuel Macron of France and Prime Minister Narendra Modi from India. REUTERS/Gonzalo Fuentes

PARIS, (Reuters) – French Finance Minister Bruno Le Maire reaffirmed Wednesday that he believes the spike in inflation will last for several more weeks or months and then drop off by the beginning of 2023.

Le Maire said that by 2023, the inflationary peak will have receded.

The French economy shrank unexpectedly last month as people struggled with rising inflation. It reached 5.8% for 12 months, a record high.

Le Maire, however, stated that he expected France to experience positive economic growth in 2022.

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