France: Harmonized inflation drops to lowest level since March 2021 in September
Latest reading: Harmonized inflation came in at 1.4% in September, down from August’s 2.2% and well below market expectations. September’s figure represented the weakest inflation rate since March 2021. Lower global oil prices and price normalization following the Olympics in August were key drivers behind the fall in inflation.
Annual average harmonized inflation fell to 2.9% in September (August: 3.3%). Meanwhile, consumer price inflation fell to 1.1% in September from the previous month’s 1.8%.
Lastly, harmonized consumer prices fell 1.30% over the previous month in September, swinging from the 0.60% increase recorded in August.