France Inflation December 2021


France: Harmonized inflation remains steady in December

January 4, 2022

According to a flash estimate, consumer prices increased 0.22% in December over the previous month, slowing down from the 0.36% increase recorded in November. December's result marked the weakest reading since September. Looking at the details of the release, prices for manufactured products were stable, while prices for energy dropped. Meanwhile, prices for services and food products rose over the prior month.

Harmonized inflation came in at 3.4% in December, matching November’s figure, which was the highest inflation rate since August 2008. Meanwhile, the trend pointed up, with annual average harmonized inflation coming in at 2.1% in December (November: 1.8%). Lastly, consumer price inflation was unchanged, coming in at November's 2.8% in December.

FocusEconomics Consensus Forecast panelists project harmonized inflation averaging 2.1% in 2022, which is up 0.3 percentage points from last month’s estimate, and 1.5% in 2023.


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France Inflation Chart

France Inflation December 2021

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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