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France Inflation Rate Confirmed at 2-½-Year Low
The annual inflation rate in France was confirmed at 2.3% in March 2024, down from 3% in February, and compared to initial forecasts of 2.6%. It marked the lowest level since September 2021, driven by a broad slowdown in prices for food (1.7% vs 3.6% in February), services (3.0% vs 3.2%), energy (3.4% vs 4.3%), and manufactured products (0.1% vs 0.4%). Tobacco prices also moderated sharply (10.7% vs 18.7%). On a monthly basis, consumer prices grew 0.2%, easing from a prior 0.8% advance, mainly due to a decline in energy costs, mostly gas and petroleum products. Considering the EU-harmonised index, prices rose 2.4% on the year and 0.2% on the month, also easing from 3.2% and 0.9% respectively in the previous month.
Published on 2024-04-12

France Inflation Rate Slows More than Expected to 2.3%
The annual inflation rate in France slowed to 2.3% in March 2024, the lowest reading since September 2021, from 3% in February, and below forecasts of 2.6%, preliminary estimates showed. There was a broad based slowdown in consumer prices, namely food (1.7% vs 3.6% in February), with cost of fresh food falling 3.9%; services (3% vs 3.2%); tobacco (10.7% vs 18.7%); energy (3.4% vs 4.3%); and manufactured products (0.1% vs 0.4%). Compared to the previous month, the CPI rose 0.2%, well below 0.9% in February, due to a slight drop in energy prices, mostly gas and petroleum products while prices of manufactured goods are expected to have accelerated due to the seasonal rise in clothing prices after the winter sales. Considering the EU-harmonised index, prices rose 2.4% on the year and 0.2% on the month, also easing from 3.2% and 0.9% respectively in February.
Published on 2024-03-29

France Inflation Rate Revised Higher
The annual inflation rate in France edged down to 3% in February 2024 from 3.1% in the previous month, revising higher than preliminary estimates of 2.9%. It was the lowest reading since January 2022, as food inflation continued to slow (3.6% vs 5.7% in January), particularly fresh products (0.4% vs 7.9%), while prices also eased further for manufactured products (0.4% vs 0.7%), and services (3.1% vs 3.2%). Conversely, costs rose faster for energy (4.3% vs 1.9%), and tobacco (18.7% vs 16.8%). On a monthly basis, consumer prices advanced 0.8%, the largest growth since August 2023 and reversing a 0.2% fall in January, mainly prompted by a sharp acceleration in energy prices, mostly electricity costs and petroleum products. Considering the EU-harmonised index, the CPI rose 3.2% on the year and 0.9% on the month.
Published on 2024-03-15

France Inflation Rate Falls Less than Anticipated
The annual inflation rate in France slowed to 2.9% in February 2024, the lowest since January 2022, from 3.1% in January, but markets were expecting it would eased more to 2.7%, preliminary estimates showed. The slowdown is mainly due to base effects from last year when inflation accelerated and prices jumped over the month. In February 2024, a slowdown was seen in prices for food (3.6% vs 5.7%), mostly fresh products (0.5% vs 7.9%), manufactured products (0.3% vs 0.7%) and services (3.1% vs 3.2%) while energy (4.4% vs 1.9%) and tobacco (18.7% vs 16.8%) prices rose faster. Compared to the previous month, the CPI went up 0.8%, rebounding from a 0.2% fall in January, led by a rise in cost of services, namely rents and transport, and energy, mostly electricity, manufactured products and tobacco. Considering the EU-harmonised index, the CPI rose 3.1% on the year and 0.9% on the month.
Published on 2024-02-29

France Inflation Rate Confirmed at 2-Year Low
The annual inflation rate in France was confirmed at 3.1% in January 2024, in line with market forecasts and from 3.7% in the previous month. It marked the lowest reading since January 2022, as food inflation broadly slowed to an over a-year-and-a-half low of 5.7% from 7.2% in December. At the same time, prices also sharply eased for manufactured products (0.7% vs 1.4%); and energy (1.9% vs 5.7%), due to falling costs of petroleum products. In contrast, inflation surged for tobacco (16.8% vs 9.8%), while there was an uptick for services (3.2% vs 3.1%). On a monthly basis, consumer prices fell 0.3%, following a 0.1% rise in December. Meanwhile, the harmonized CPI grew by 3.4% on the year, and went down 0.2% from a month earlier.
Published on 2024-02-16

France Inflation Rate Hits 2-Year Low
France’s consumer price inflation eased to 3.1% year-on-year in January 2024 from 3.7% in the previous month, preliminary estimates showed. It was the lowest reading since January 2022, as food inflation slowed to a year-and-a-half low of 5.7% compared to 7.2% in December. Additionally, prices slowed for energy (1.8% vs 5.7%), and manufactured products (0.7% vs 1.4%). Conversely, costs of tobacco accelerated to 16.8% from 9.8%, while there was an uptick for the services inflation (3.2% vs 3.1%). On a monthly basis, consumer prices fell 0.2%, following a prior 0.1% rise. Meanwhile, the harmonized CPI is likely to grow 3.4% on the year, and drop 0.2% from a month earlier.
Published on 2024-01-31

France Inflation Rate Matches Forecasts
The annual inflation rate in France was confirmed at 3.7% in December 2023, up from 3.5% rise in the previous month, mainly due to higher prices of energy and services, and in line with preliminary estimates. The energy costs rose by 5.7%, after a 3.1% hike in November, primarily attributed to a notable increase in electricity prices (18.9% vs 16.1%). Service prices also grew by 3.1% (vs 2.8% in November), propelled by a rebound in transportation (2.1% vs -1.4%). By contrast, prices rose at a slower pace for manufactured products (1.4% vs 1.9%), while inflation remained steady for tobacco (at 9.8%). In the meantime, food inflation continued to ease, reaching a 17-month low of 7.2% (vs 7.7%). On a monthly basis, consumer prices inched up by 0.1%, reversing from a 0.2% fall in November. Additionally, the harmonised CPI increased by 4.1% on the year, compared to 3.9% in the previous month.
Published on 2024-01-12

French Inflation Rate Edges Higher
France's consumer price inflation rose to 3.7% year-on-year in December 2023 from 3.5% in the previous month, slightly below market expectations of 3.8%, a preliminary estimate showed. This uptick in inflation is mainly due to higher prices of energy (5.6% vs 3.1% in November) and services (3.1% vs 2.8%). By contrast, prices rose at a slower pace for manufactured products (1.4% vs 1.9%), while inflation remained steady for tobacco (at 9.8%). In the meantime, food inflation continued to ease, reaching a 17-month low of 7.1% (vs 7.7%). On a monthly basis, consumer prices went up by 0.1%, reversing from a 0.2% fall in November. Additionally, the harmonised CPI increased by 4.1% on the year, compared to 3.9% in the previous month.
Published on 2024-01-04

French Inflation Rate Revised Higher
The annual inflation rate in France slowed to 3.5% year-on-year in November 2023, down from 4% in October and slightly above a preliminary reading of 3.4%. This marked the lowest reading since January last year, primarily driven by notable decelerations in the prices of energy (3.1% vs 5.2% in October), services (2.8% vs 3.2%) and manufactured products (1.9% vs 2.2%). Food inflation also continued to ease, reaching a 16-month low of 7.7% (vs 7.8%), indicating softening prices for bread & cereals, meat, milk, cheese & eggs. Meanwhile, the core rate, which excludes volatile items such as energy and unprocessed food, alleviated to a 19-month low of 3.6% from 4.2% in the prior month. Monthly, the CPI fell by 0.2%, after a 0.1% rise in October.
Published on 2023-12-15

French Inflation Rate Drops to Near 2-Year Low
France's consumer price inflation slowed to 3.4% year-on-year in November 2023, down from 4% in the previous month, a preliminary estimate showed. This marks the lowest rate since January 2022, as prices rose at a slower pace for services (2.7% vs 3.2% in October), energy (3.1% vs 5.2%) and, to a lesser extend, manufactured products (1.9% vs 2.2%) and food (7.6% vs 7.8%). France's European Union-harmonised 12-month inflation was 3.8% in November, down from 4.5% in October and below the market consensus of 4.1%. On a monthly basis, consumer prices dropped by 0.2%, after a 0.1% gain in October.
Published on 2023-11-30

French Inflation Rate Confirmed at 20-Month Low
France's consumer price inflation was confirmed at 4% year-on-year in October 2023, the lowest rate since February 2022, following two consecutive months of steadiness at 4.9%, primarily driven by a sharp slowdown in the prices of energy and food. Energy prices decelerated notably (5.2% vs 11.9% in September), mainly due to declines in gas prices (-5.5% vs 7.6%) and solid fuels (-8.4% vs 6.1%). Food inflation also slowed down for the seventh consecutive month (7.8% vs 9.7%), marked by softening prices for bread & cereals, meat, milk, cheese & eggs. Additionally, inflation eased for manufactured products (2.2% vs. 2.8%), while it rose slightly for services (3.2% vs 2.9%). Meanwhile, the core rate, which excludes volatile items such as energy and unprocessed food, alleviated to a 16-month low of 4.2% from 4.6% in the prior month. Monthly, the CPI rose by 0.1%, reversing a 0.5% drop in September.
Published on 2023-11-15

French Inflation Rate Slows to 20-Month Low
France's consumer price inflation dropped to 4% year-on-year in October 2023, down from 4.9% in the previous month and in line with market expectations, a preliminary estimate showed. The rate reached its lowest point since February of the previous year, attributed to the slowdown in the prices of energy, food and, to a lesser extent, manufactured products. Energy prices significantly decelerated (5.2% vs. 11.9% in September), while both food (7.7% vs. 9.7%) and manufactured products (2.3% vs. 2.8%) saw more gradual price rises. In the meantime, the price growth for tobacco remained constant (at 9%). By contrast, inflation for services accelerated slightly (3.2% vs 2.9%). On a monthly basis, consumer prices went up by 0.1%, reversing from a 0.5% fall in September. Additionally, the harmonised CPI eased to a 20-month low of 4.5% on the year, compared to 5.7% in the previous month.
Published on 2023-10-31

France Inflation Rate Matches Forecasts
The annual inflation rate in France was confirmed at 4.9% in September 2023, unchanged from the previous month and in line with preliminary estimates. The core rate, which excludes volatile items such as energy and unprocessed food, was steady at 4.6%. Still, both the headline and core measures remained above the European Central Bank's target of 2.0%. Energy costs increased significantly by 11.9% ( vs 6.8% in August) due to a sharp rebound in petroleum product prices (10.7% vs -0.3%). On the other hand, food prices slowed down for the sixth consecutive month (9.7% vs 11.2%), attributed to softening prices for bread & cereals, meat, milk and cheese & eggs. Inflation also eased for services (2.9% vs 3%) and manufactured products (2.8% vs 3.1%), while price growth was stable for tobacco (at 9.9%). On a monthly basis, consumer prices fell by 0.5% in September, after a 1% rise in August. Additionally, the harmonised CPI was down by 0.6% on the month and rose by 5.7% on the year.
Published on 2023-10-13

France Inflation Rate Steady at 4.9% in September
France's consumer price inflation stood at 4.9% year-on-year in September 2023, the same as in the previous month and below market expectations of 5.1%, a preliminary estimate showed. The rate continued to remain above the European Central Bank's target of 2%, driven by rising energy prices (11.5% vs 6.8%) as petroleum product costs rebounded. On the other hand, inflation eased for food (9.6% vs 11.2%), services (2.8% vs 3%) and manufactured products (2.9% vs 3.1%), while price growth was steady for tobacco (at 9.9%). On a monthly basis, consumer prices fell by 0.5% in September, following a 1% rise in August and compared to market forecasts of 0.3% decline.
Published on 2023-09-29

French Inflation Rate Revised Higher
The annual inflation rate in France rose to 4.9% in August 2023, from 4.3% in July and slightly above a preliminary reading of 4.8%. This marked the highest reading since May, driven by a rebound in energy prices (6.8% vs -3.7%), particularly due to a sharp increase in electricity prices (18.0% vs 9.4%). On the other hand, cost eased for food (11.2% vs 12.7%), notably for bread & cereals (11.6% vs 13.1%), meat (9.0% vs 10.6%) and milk, cheese & eggs (15.1% vs 17.9%). There were also softer rises in manufactured products (3.1% vs 3.4%) and services (3% vs 3.1%). On a monthly basis, consumer prices went up by 1%, after a prior 0.1% rise in July and in line with preliminary estimates. Additionally, the harmonised CPI was up 1.1% on the month and climbed 5.7% on the year.
Published on 2023-09-15

French Inflation Rate Higher than Expected
France's consumer price inflation accelerated to 4.8 percent year-on-year in August 2023, up from 4.3 percent in the previous month and exceeding market expectations of 4.6 percent, a preliminary estimate showed. The rate also came in well above the European Central Bank's target of 2.0 percent, mainly due to a rebound in energy prices (6.8 percent vs -3.7 percent in July). Prices of tobacco have also increased at a slightly faster pace (9.9 percent vs 9.8 percent). On the other hand, inflation eased for food (11.1 percent vs 12.7 percent), services (2.9 percent vs 3.1 percent), and manufactured products (3.1 percent vs 3.4 percent). On a monthly basis, consumer prices rose by 1.0 percent in August, following a 0.1 percent increase in July.
Published on 2023-08-31

French Inflation Rate Eases to 4.3%
The annual inflation rate in France was confirmed at 4.3% in July 2023, down from a 4.5% rise in the previous month and in line with preliminary estimates. The rate reached its lowest point since February of the previous year, attributed to declines in energy prices and more moderate increases in the prices of food and manufactured products. However, it still remained well above the European Central Bank's target of 2%. Energy prices sustained their decline (-3.7% vs -3% in June), while the increase in costs for both food (12.7% vs 13.7%) and manufactured products (3.4% vs 4.2%) was more gradual. In the meantime, the price growth for tobacco remained constant (at 19.8%). By contrast, inflation for services accelerated slightly (3.1% vs 3%). On a monthly basis, consumer prices went up by 0.1%, after a prior 0.2% rise in June. Additionally, the harmonised CPI was up 5.1% on the year, the lowest since April last year, compared to 5.3% in the previous month.
Published on 2023-08-11

France Inflation Rate Slows in July
The consumer price inflation in France eased to 4.3 percent year-on-year in July 2023, down from 4.5 percent the month before and in line with market consensus, a preliminary estimate showed. The rate hit its lowest level since February last year, due to softer rises in prices of energy, food, and manufactured products. Nevertheless, this rate still remained above the European Central Bank's target of 2.0 percent. Energy prices continued to decline (-3.8 percent vs -3 percent in June), while costs rose at a slower pace for both food (12.6 percent vs 13.7 percent) and manufactured products (3.4 percent vs 4.2 percent). By contrast, inflation for services accelerated slightly (3.1 percent vs 3 percent). On a monthly basis, consumer prices were flat in July, after increasing by 0.2 percent in June and compared to market forecasts of 0.2 percent.
Published on 2023-07-28

French Inflation Rate Edges Lower to 4.5%
The annual inflation rate in France was confirmed at 4.5% in June 2023, down from a 5.1% rise in the previous month, primarily due to declines in energy prices, and in line with preliminary estimates but it still remained well above the European Central Bank's target of 2%. The cost of energy slumped sharply by 3% (vs 2% in May), mainly attributed to ongoing price reductions in petroleum products, which experienced a significant drop of 17.2% (vs - 9.7%) and food inflation rose at the softest pace in 5 months (13.7% vs 14.3%) linked with softening prices for bread & cereals, meat, milk, cheese & eggs, and oils & fats. Services inflation stood at 3%, the same pace as in May, while manufactured good prices rose slightly by 4.2% (vs 4.1%). On a monthly basis, consumer prices inched up by 0.2%, after a prior 0.1% drop in May. Meanwhile, the harmonised CPI was up 5.3% on the year, the lowest since March last year, compared to 6% in the previous month.
Published on 2023-07-13

French Inflation Rate Cools to 15-Month Low
France's consumer price inflation dropped to 4.5 percent year-on-year in June 2023, marking the lowest level since March 2022 and slightly below the market consensus of 4.6 percent, as shown in a preliminary estimate. However, this rate still remained above the European Central Bank's target of 2.0 percent. Energy prices experienced a sharp decline (-3.0 percent vs 2.0 percent in May), while costs rose at a slower pace for both food (13.6 percent vs 14.3 percent) and services (2.9 percent vs 3.0 percent). In contrast, inflation for manufactured products accelerated in June (4.3 percent vs 4.1 percent). On a monthly basis, consumer prices increased by 0.2 percent, following a 0.1 percent decline in May.
Published on 2023-06-30