France Inflation June 2022


France: Harmonized inflation comes in at highest level since records began

July 13, 2022

Consumer prices rose 0.72% in June over the previous month, picking up from May's 0.68% increase. Looking at the details of the release, prices for energy—driven by a sharp increase in petroleum prices—accelerated. In contrast, prices for manufactured products were stable, while prices for services grew at a more moderate rate in June.

Harmonized inflation increased to 6.5% in June, following May’s 5.8%. June's reading marked the highest inflation rate since current records began. Annual average harmonized inflation rose to 3.9% in June (May: 3.5%). Lastly, consumer price inflation rose to 5.8% in June, from May’s 5.2%.

FocusEconomics Consensus Forecast panelists project harmonized inflation averaging 5.3% in 2022, which is up 0.6 percentage points from last month’s estimate, and 2.8% in 2023.


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France Inflation Chart

France Inflation June 2022

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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