French Inflation holds at record high, challenging European slowdown

The French inflation rate for November remained surprisingly high. Despite a slowdown in other countries of the Eurozone, any appeals for interest rate easing from the European Central Bank were ignored.

Consumer prices in the currency bloc's second-largest economy rose 7.1% from a year earlier, according to statistics agency Insee. Analysts polled by Bloomberg estimated a 7% price rise.

European bonds continued to fall after the publication of statistics. Before its slowdown, however, German 10-year bond yields rose 6 basis points to 1.98%.

On Tuesday, France's performance matched lower inflation rates from Germany, Spain and Belgium. The Eurozone’s statistics, which include data from 19 countries, are due out Wednesday, with economists also predicting a slight slowdown — the first in 1.5 years.