France Inflation September 2021


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

October 15, 2021

Consumer prices fell 0.22% over the previous month in September, contrasting the 0.61% rise seen in August. September's result marked the weakest reading since September 2020. The decline was largely attributed to declining prices for food and services. Meanwhile, prices for manufactured products eased over the prior month.

Harmonized inflation came in at 2.7% in September, up from August’s 2.4%. September's figure represented the highest inflation rate since November 2011. Annual average harmonized inflation rose to 1.3% in September (August: 1.0%). Finally, consumer price inflation ticked up to 2.2% in September, from the previous month's 1.9%.

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


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France Inflation Chart

France Inflation September 2021 1

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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