Preliminary data released on 30th June by the statistics agency INSEE showed French inflation ended its streak of over two years at a high with a retreat in energy costs, which weighed most heavily on prices.

In the euro zone’s second-biggest economy, the harmonised inflation rate, which is used to make comparisons with other E.U. economies dropped to 2.0% in June. It’s in line with the European Central Bank’s inflation target.

The reading came in lower than 2.8% in May, after five straight months of rising inflation rates, which started in January.

This June figure was also significantly lower than the expectations of analysts. The Reuters poll of 17 economists had predicted average inflation to be 2.3%.

The slowdown was led primarily by the 5% monthly drop in energy prices, which primarily reflected the drop in petroleum products. But energy expenses continued to be high, as they have since the beginning of the Iran war, increasing 11.2% since the same period a year ago.

The services sector inflation rate also declined, dropping 1.8% from 2.1% in May.

However, manufactured goods prices fell for a third straight month, as the annual rate dropped to minus 0.9% in June from minus 0.6% in May.

The less robust inflation readings may reaffirm calls for inflation pressures to be starting to ease from months of solid gains in France. Economists are keeping an eye on energy markets and geopolitical events, though, which may impact inflation going forward.