French stocks edged higher in cautious trading on Wednesday, following comments from Federal Reserve Chairman Jerome Powell, who indicated that the central bank is unlikely to raise its key interest rate to combat elevated inflation.
After an unexpected rise in producer price data for April, investors turned their attention to the crucial U.S. Consumer Price Index (CPI) data, set for release later in the day, seeking further indications of the Federal Reserve's future plans.
Meanwhile, France's consumer price inflation continued to ease, reaching its lowest level in over two-and-a-half years, as initially estimated for April, according to the latest figures from the statistical office INSEE.
The consumer price index recorded an annual increase of 2.2 percent in April, slightly down from the 2.3 percent rise observed in March. This was consistent with the preliminary data released on April 30. Harmonized inflation held steady at 2.4 percent in April.
The CAC 40 index slightly declined by 9 points, or 0.1 percent, settling at 8,217, after a 0.2 percent increase in the previous trading session.
