France Inflation February 2018


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%.

Author: Jean-Philippe Pourcelot, Economist

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France Inflation Chart

France Inflation February 2018

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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