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France Inflation March 2024

France: Harmonized inflation falls to an over two-year low in March

Harmonized inflation came in at 2.4% in March, down from February’s 3.2%. March’s result marked the lowest inflation rate since August 2021 and was broadly in line with market expectations. The slowdown was primarily driven by a more moderate rise in prices for food and non-alcoholic beverages. Moreover, price pressures for housing and utilities softened.

Accordingly, annual average harmonized inflation fell to 4.7% in March (February: 5.0%). Meanwhile, consumer price inflation fell to 2.3% in March, from February’s 3.0%.

Lastly, harmonized consumer prices rose 0.25% from the previous month in March, moderating from the 0.95% increase logged in February.

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