France Inflation October 2021


France: Harmonized inflation comes in at highest level since September 2008 in October

November 12, 2021

Consumer prices rose 0.41% in October over the previous month, swinging from September's 0.22% drop. Looking at the details of the press release, October’s increase was largely attributed to stronger price pressures for energy. Meanwhile, food and non-alcoholic beverages prices fell at a more moderate pace in October compared to the previous month.

Harmonized inflation rose to 3.2% in October, above September’s 2.7%. October's reading was the highest inflation rate since September 2008. Annual average harmonized inflation edged up to 1.5% in October (September: 1.3%). Lastly, consumer price inflation rose to 2.6% in October, from September’s 2.2%.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.7% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, panelists see harmonized inflation averaging 1.6%.


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France Inflation Chart

France Inflation October 2021 3

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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