France Inflation July 2018

France

France: Inflation hits six-year high in July

August 14, 2018

Revised data published by the Statistical Institute (INSEE) on 14 August matched the preliminary estimate, which showed that consumer prices shrank by a marginal 0.1% in July from a month earlier (June: +0.0% month-on-month). Summer sales contributed to a fall in manufactured-product prices, while airfare prices shot up. Meanwhile, energy costs slowed somewhat as food prices rebounded.

Inflation came in at 2.3% in July, a six-year high and climbing from June’s 2.0% reading. Annual average inflation rose to 1.5% from 1.3% a month earlier.

Harmonized consumer prices recorded a similar 0.1% month-on-month decline, while harmonized inflation landed at 2.6%—a six-year high (June: 2.3%). Finally, annual average harmonized inflation inched up to 1.6% from 1.5% in June.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.4% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists see harmonized inflation averaging 1.5%.


Author:, Economist

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France Inflation July 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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