France Inflation August 2016


Inflation steady in August

According to the National Statistical Institute (INSEE), consumer prices in August rose 0.3% over the previous month, contrasting the 0.4% drop seen in July. August’s reading reflected higher prices for fresh food, as well as for clothing and footwear due to the end of the summer sales prices. August’s figure, however, was partly offset by lower prices for petroleum products.

Inflation in August remained steady at July’s 0.2%. Meanwhile, annual average inflation in August inched up to 0.1% following July’s flat reading.

Harmonized consumer prices (based on the harmonized index of consumer prices (HICP)) increased 0.3% over the previous month (July: -0.4% month-on-month). Harmonized inflation increased 0.4% annually in August, in line with July’s print. Meanwhile, annual average HICP inflation edged up to 0.2%, up from 0.1% in July.

The government expects inflation to average 0.1% in 2016 and 1.0% in 2017. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 0.3% in 2016, which is unchanged from last month’s forecast. For 2017, panelists project that inflation will accelerate to 1.2%.

Author:, Economist

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France Inflation Chart

France Inflation August 2016

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Institute of Statistics and Economic Studies (INSEE).

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