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CAC 40 Slides On Inflation Jitters
(RTTNews) - French stocks declined on Tuesday after inflation figures from France and Spain came in hotter than expected for February, with price rises picking up pace both on an annual and sequential basis.
The inflation rate in France rose to 7.2 percent in February year-on-year, up from 7.0 percent in January as a result of rising food prices, preliminary data showed.
Spanish consumer price inflation increased an annual 6.1 percent in February, accelerating from 5.9 percent during the 12 months to January.
Christine Lagarde, President of the European Central Bank (ECB), said in an interview that the central bank is data dependent and will decide on rate hikes later after a 50 basis points hike in March.
The benchmark CAC 40 was down 32 points, or 0.4 percent, at 7,264 after climbing 1.5 percent the previous day.
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