This is the highest inflation rate we've seen in over three years and much higher than 0.3 percent in June 1999, ... Euro-zone inflation should come in around 2.2 percent in June, and the ECB is likely to respond with a 25-basis-point rate rise in September.

Emmanuel Ferry

Related Quotes

Moreover, the four motors of consumption -- that is wages, inflation, unemployment and consumer confidence -- are on a downward trend and should drag spending down.

— Emmanuel Ferry

ConfidenceInflationUnemployment

The rebound is very slow, gradual and uncertain. The survey shows a changing scenario in July, notably on the personal and general business outlooks which deteriorated significantly.

— Emmanuel Ferry

ChangingGradualJuly

For the moment there is absolutely no sign of a turnaround, ... The impact of the global slowdown on the French economy will continue to be felt in 2002.

— Emmanuel Ferry

The broad picture looks better than expected but we have to watch figures very carefully. A downward correction driven by a relapse in consumer spending is very likely in the fourth quarter. That's why I remain cautious.

— Emmanuel Ferry

This confirms my pessimistic scenario of a 0.9 percent growth for 2004 and consumer spending recovering only in 2005.

— Emmanuel Ferry