France: HICP inflation edges down in February
February 28, 2018
Preliminary data released by the National Statistical Institute (INSEE) on 28 February showed that consumer prices dropped 0.1% from the previous month in February (January: -0.1% month-on-month). Lower prices for food products, manufactured goods and services were largely behind the drop. In turn, prices for energy products were broadly unchanged, as lower prices for petroleum product were more than offset by higher prices for gas and electricity.
Inflation moderated from January’s 1.3% to 1.2% in February. Meanwhile, annual average inflation in February was stable at the previous month’s reading of 1.0%.
Harmonized consumer prices dropped 0.1% month-on-month in February, matching the print observed in January. Harmonized inflation dropped from 1.5% in January to 1.3% in February. Lastly, annual average HICP inflation inched down from 1.2% in January to 1.1% in February.
France Inflation Forecast
FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.3% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists project that inflation will remain steady at 1.5%.