France Inflation


France: Consumer prices rebound slightly in April

May 13, 2015

In April, consumer prices rose 0.1% over the previous month. The reading was below March’s 0.7% increase and matched market expectations. According to the national statistical institute (INSEE), the result came on the back of increases, which were partially seasonal, in prices of services, manufactured products and petroleum products, while food prices remained flat.

Consumer prices rose 0.1% in April over the same month last year, which contrasted the 0.1% drop observed in March. Core consumer prices, which do not take into account volatile categories such as fresh food and energy prices nor regulated prices, rose 0.1% over the previous month, mirroring March’s result. Core inflation inched up from 0.2% in March to 0.4% in April.

Harmonized consumer prices (based on the harmonized index of consumer prices, HICP) rose 0.1% over the previous month, which came in below March’s 0.7% increase. On an annual basis, harmonized consumer prices rose 0.1% in April (March: 0.0% year-on-year). Annual average HICP inflation remained stable at March’s 0.3%.

The government expects inflation to average 0.9% in 2015. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 0.2% in 2015, which is unchanged from last month’s forecast. For 2016, panelists project that inflation will accelerate to 1.1%.

Author:, Economist

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France Inflation Chart

France Inflation April 2015

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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