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. source: INSEE, France

Inflation Rate in France averaged 4.27 percent from 1958 until 2023, reaching an all time high of 18.80 percent in April of 1958 and a record low of -0.70 percent in July of 2009. This page provides the latest reported value for - France Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Inflation Rate in France is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Inflation Rate is projected to trend around 2.40 percent in 2024 and 2.20 percent in 2025, according to our econometric models.

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France Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-28 06:45 AM Inflation Rate YoY Prel Jul 4.3% 4.5% 4.3% 4.3%
2023-08-11 06:45 AM Inflation Rate YoY Final Jul 4.3% 4.5% 4.3% 4.3%
2023-08-31 06:45 AM Inflation Rate YoY Prel Aug 4.3% 4.6% 4.2%


Related Last Previous Unit Reference
Inflation Rate 4.30 4.50 percent Jul 2023
Inflation Rate MoM 0.10 0.20 percent Jul 2023
Harmonised Consumer Prices 120.77 120.71 points Jul 2023
Consumer Price Index CPI 117.71 117.65 points Jul 2023
Core Consumer Prices 114.30 114.28 points Jul 2023
Core Inflation Rate 5.00 5.70 percent Jul 2023
Producer Prices 140.60 142.20 points Jun 2023
Producer Prices Change 3.00 5.65 percent Jun 2023
Export Prices 154.00 152.20 points May 2022
Import Prices 142.60 142.30 points May 2022
Food Inflation 12.70 13.70 percent Jul 2023
Services Inflation 3.10 3.00 percent Jul 2023
Energy Inflation -3.70 -3.00 percent Jul 2023
Producer Price Inflation MoM -1.10 -1.50 percent Jun 2023
CPI Transportation 128.22 125.32 points Jul 2023
CPI Housing Utilities 123.61 125.03 points Jul 2023

France Inflation Rate
In France, the most important category in the consumer price index is services (48 percent of total weight), in particular rents, water and garbage collection (8 percent), health services (7 percent), transport (2 percent), and communication (2 percent). The index also includes: manufactured products (24 percent) such as medical products (4 percent) and clothing and footwear (3 percent); food (16 percent); energy (9 percent) such as petroleum products (4 percent); and tobacco (2 percent).
Actual Previous Highest Lowest Dates Unit Frequency
4.30 4.50 18.80 -0.70 1958 - 2023 percent Monthly
2015=100, NSA

News Stream
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.
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.
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.
2023-07-13