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France Inflation July 2023

France: Harmonized inflation falls to over one-year low in July

Harmonized inflation came in at 5.1% in July, which was down from June’s 5.3%. July’s result represented the lowest inflation rate since February 2022. The result was driven by moderating price pressures for food and non-alcoholic beverages, housing and utilities and recreation.

In addition, the trend pointed down mildly, with annual average harmonized inflation coming in at 6.5% in July (June: 6.6%). Meanwhile, consumer price inflation edged down to 4.3% in July, from June’s 4.5%.

Lastly, harmonized consumer prices increased 0.05% in July over the previous month, a smaller increase than June’s 0.21% rise.

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