France Inflation August 2021


France: Harmonized inflation rises in August

August 31, 2021

According to a flash estimate, consumer prices rose 0.61% in August over the previous month, accelerating from the 0.06% increase recorded in July. August's result marked the highest reading since March 2019. Looking at the details of the release, the result was largely attributed to a quicker rise in prices for food and non-alcoholic beverages prices rose at a quicker. Meanwhile, price pressures for manufactured products rebounded.

Harmonized inflation came in at 2.4% in August, up from July’s 1.5%. August's figure was the highest inflation rate since October 2018. Accordingly, the trend pointed up slightly, with annual average harmonized inflation coming in at 1.0% in August (July: 0.9%). Lastly, consumer price inflation rose to 1.9% in August, from July’s 1.2%.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.6% in 2021, which is unchanged from last month’s forecast. For 2022, panelists see harmonized inflation averaging 1.3%.


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France Inflation Chart

France Inflation August 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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