France Inflation September 2021


France: Harmonized inflation comes in at highest level since November 2011 in September

September 30, 2021

According to a flash estimate, consumer prices dropped 0.24% in September over the previous month, contrasting the 0.61% increase recorded in August. September's result marked the lowest print since September 2020. The result was largely driven by falling prices for services and for food and non-alcoholic beverages.

Harmonized inflation came in at 2.7% in September, which was up from August’s 2.4%. September's result represented the highest inflation rate since November 2011. Accordingly, the trend pointed up, with annual average harmonized inflation coming in at 1.3% in September (August: 1.0%). Lastly, consumer price inflation ticked up to 2.1% in September, from August’s 1.9%.

FocusEconomics Consensus Forecast panelists project harmonized inflation averaging 1.7% in 2021, which is up 0.1 percentage points from last month’s estimate, and 1.6% in 2022, which is up 0.3 percentage points from last month’s forecast.


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France Inflation Chart

France Inflation September 2021

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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