France Inflation May 2020


France: Harmonized inflation remains subdued in May

June 12, 2020

In May, consumer prices rose 0.1% after seen no growth in April, according to a second release by the Statistical Institute (INSEE). The upturn reflected higher prices for services and tobacco.

Similarly, harmonized consumer prices rose 0.2% over the previous month, after remaining stable in April, while harmonized inflation came in at 0.4% (April: 0.4%). 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 2

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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