France Inflation July 2020

France

France: Inflation hits highest level since February

July 31, 2020

Consumer prices rose a seasonally-adjusted 0.42% over the previous month in July, picking up from the 0.08% rise seen in June, according to a preliminary release by the Statistical Institute (INSEE). July's uptick was the sharpest increase in prices since December 2019 and largely reflected an increase in prices for services.

Similarly, harmonized consumer prices rose 0.45% in July, up from June’s 0.09%. Moreover, harmonized inflation rose to 0.9% in July, up from June’s 0.2%. July's figure marked the highest inflation rate since February. Meanwhile, the trend was unchanged with annual average harmonized inflation coming in at June's 1.0% in July.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.5% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, panelists see harmonized inflation averaging 1.0%.


Author:, Economist

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France Inflation July 20 20 0

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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