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Radio France Internationale
Radio France Internationale
National

France's economy shrinks as Eurozone braces for rates hike amid fears of fuel, food shortages

France's economy has contracted in the first quarter of 2022 as inflation dents confidence. Getty Images/iStockphoto - masterSergeant

France's economy has contracted over the first quarter under the impact of soaring inflation, increasing the risk for President Emmanuel Macron in key legislative elections that get underway in less than two weeks' time.

According to a data report released by the French statistics office INSEE this Tuesday, the French economy shrank by 0.2 percent from the previous quarter, in stark contrast to last year's strong 6.8 percent recovery as the Covid pandemic eased.

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