France Inflation May 2017


France: Inflation moderates in May

May 31, 2017

According to preliminary figures released by the National Statistical Institute (INSEE) on 16 May, consumer prices rose 0.1% in May, matching April’s print. The reading reflects lower prices for energy products and tobacco, which almost offset higher prices for food products.

Inflation in May edged down from 1.2% in April to a five-month low of 0.8%. Meanwhile, annual average inflation edged up to 0.7% from April’s 0.6%.

Harmonized consumer prices (based on the harmonized index of consumer prices (HICP)) dropped from 0.1% in April to a flat reading in May. Harmonized inflation came in at 0.9% in May (April: +1.4% year-on-year). Meanwhile, annual average HICP inflation picked up from 0.8% in April to 0.9% in May.

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

Author: Jean-Philippe Pourcelot, Economist

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France Inflation Chart

France Inflation May 2017

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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