France Inflation September 2020


France: Harmonized inflation flatlines in September, marking weakest reading in over four years

October 15, 2020

Consumer prices fell a seasonally-adjusted 0.51% in September over the previous month, a sharper drop than the 0.10% fall seen in August. September's result marked the steepest fall in prices since January 2016 and was largely driven by plunging prices for services. In addition, prices for food and beverages as well as for energy goods also dropped.

Similarly, harmonized consumer prices fell 0.56% in September, down from August’s 0.11% drop. Meanwhile, harmonized inflation flatlined in September, down from August’s 0.2% and marking the lowest reading since April 2016. Annual average harmonized inflation fell to 0.8% in September (August: 0.9%).

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.0% in 2021, which is down 0.1 percentage points from last month’s forecast. For 2022, panelists see harmonized inflation averaging 1.3%.


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France Inflation Chart

France Inflation September 20 20 0

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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