The French inflation report for May was released on Friday morning, coming in at 2.3%, a notch up from preliminary estimates, according to INSEE France. This was also slightly above April’s 2.2%, which was a two-and-a-half year low. Analysts had also estimated May’s figure to remain the same as April. This increase in inflation was mainly due to food inflation speeding up at 1.3% in May, up from 1.2% in April. This reversed a thirteen-month streak of slowing food inflation, primarily because of fresh products’ costs rebounding, coming in at 3.5%, up from -0.7% in April. Furthermore, energy cos…