CAC 40 Gains As Inflation Cools To Two-year Low

French stocks eked out modest gains on Wednesday as data showed French inflation eased more than expected in January to reach its lowest level since before Russia invaded Ukraine.

France’s consumer price inflation rose by 3.1 percent from the same month last year after a 3.7 percent rise in December, according to provisional numbers released by national statistics agency Insee. This was lower than economists’ expectations for a 3.4 percent increase.

The benchmark CAC 40 was up 21 points, or 0.3 percent, at 7,698 after rising half a percent on Tuesday.

Investors await the Fed’s interest-rate decision, the accompanying policy statement and Chair Jerome Powell’s press conference later in the day for clarity on when U.S. interest rates will come down.