France Inflation February 2017

France

France: Inflation moderates from January's multi-year high in February

March 14, 2017

According to revised figures released by the National Statistical Institute (INSEE) on 15 March, consumer prices rose 0.1% in February (January: -0.2% month-on-month). The reading reflects higher prices for tobacco and services.

Inflation edged down from January’s over four-year high of 1.3% to 1.2% in February. The slowdown reflects a sharp decline in prices of manufactured products. Meanwhile, annual average inflation inched up to 0.4% from January’s 0.3%.

Harmonized consumer prices (based on the harmonized index of consumer prices (HICP)) rose 0.2% in February (previously reported: +0.1% month-on-month), contrasting the 0.3% drop observed in the previous month. Harmonized inflation moderated from 1.6% in January to 1.4% in February. Meanwhile, annual average HICP inflation picked up from 0.4% in January to 0.5% in February.

FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.3% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists project that inflation will accelerate to 1.4%.


Author: Jean-Philippe Pourcelot, Economist

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France Inflation Chart


France Inflation February 2017 1

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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