France Inflation May 2020


France: Harmonized inflation falls to four-year low in May

May 29, 2020

In May, consumer prices were stable month-on-month, matching April’s result, according to a preliminary release by the Statistical Institute (INSEE). Rising prices for services and tobacco, offset a softer fall in prices for energy.

Similarly, harmonized consumer prices were stable on a monthly basis in May after seen no growth in April, while harmonized inflation came in at 0.2% (April: 0.4%), the lowest print since May 2016. Meanwhile, annual average harmonized inflation ticked down to 1.1% (April: 1.2%).

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.5% in 2020, which is up 0.1 percentage points from last month’s forecast. For 2021, panelists see harmonized inflation averaging 1.2%.


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France Inflation Chart

France Inflation May 20 20

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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