According to Reuters, Bank of France head and ECB governing council member Francois Villeroy de Galhau said on Tuesday that inflation “is now close to its peak in our country (December showing first signs of stabilisation) and in the euro area”. “While remaining very vigilant,” he added, “we believe that supply difficulties and energy pressures should gradually subside over the course of the year”. 

His remarks come after the release of flash French HICP figures on Tuesday which showed YoY inflation remaining at 13-year highs of 3.4% in December. The French central bank thinks inflation will end 2022 under 2.0%.

Market Reaction

The euro has not reacted to Villeroy’s latest remarks. 

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