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France Inflation January 2024

France: Harmonized inflation drops to lowest level in two years in January

Harmonized inflation came in at 3.4% in January, down from December’s 4.1%. January’s figure represented the lowest inflation rate in two years. The reading was primarily due to softer growth in prices for food and non-alcoholic beverages. In addition, price pressures for transportation and recreation increased at slower rates.

Annual average harmonized inflation fell to 5.4% in January (December: 5.7%). Meanwhile, consumer price inflation fell to 3.1% in January, from December’s 3.7%.

Lastly, harmonized consumer prices fell 0.24% in January over the previous month, swinging from December’s 0.14% increase. January’s result marked the weakest reading since September 2023.

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