PARIS (Reuters) -Inflation might be excessive in 2022 and though the value stress ought to progressively ease subsequent yr, France and its accomplice international locations are set to enter into “a brand new period of upper inflation”, mentioned the French finance minister.

“I feel by 2023, inflation will decline progressively as we handle to steadiness provide and demand within the vitality sector, however we now have to be lucid about this: We’re coming into a brand new period of upper inflation,” Le Maire informed BFM TV on Friday.

Russia’s invasion of Ukraine has contributed to a pointy rise in vitality costs, which in flip has exacerbated inflationary pressures throughout the worldwide financial system.

The headline French inflation determine stood at 5.1% in March, whereas euro zone inflation in March was marginally decrease than earlier reported however nonetheless at document highs due to a surge in the price of vitality.

Le Maire added on Friday that the present inflation within the euro zone’s second-biggest financial system is pushed to the issue of round 60% by vitality costs.