France: HICP inflation picks up in January
Preliminary data released by the National Statistical Institute (INSEE) on 31 January showed that consumer prices dropped 0.1% from the previous month in January (December: +0.3% month-on-month). Lower prices for manufactured products, which dropped steeply as seasonal sales started, as well as lower prices for services and tobacco were behind the month-on-month drop.
Inflation edged up from 1.2% in December to 1.4% in January, marking the highest reading since November 2012. Meanwhile, annual average inflation in January was stable at the previous month’s reading of 1.0%.
Harmonized consumer prices dropped 0.1% month-on-month in January, contrasting the 0.4% increase observed in December. Harmonized inflation edged up from 1.2% in December to 1.5% in January. Lastly, annual average HICP inflation remained steady in January at the 1.2% print observed in December.