France Inflation September 2016


France: Inflation reaches almost-two-year high in September

October 3, 2016

According to preliminary figures released by the National Statistical Institute (INSEE), consumer prices in September dropped 0.2% over the previous month, contrasting August’s 0.3% increase. September’s reading reflected lower prices for tourism-related services, which more than offset higher prices for petroleum products and manufactured goods.

Inflation edged up from 0.2% in August to 0.4% in September, marking the highest reading since October 2014. Meanwhile, annual average inflation mirrored the 0.1% reading observed in August.

Harmonized consumer prices (based on the harmonized index of consumer prices (HICP)) dropped 0.2% over the previous month (August: +0.3% month-on-month). Harmonized inflation inched up from 0.4% in August to 0.5% in September. Meanwhile, annual average HICP inflation in September remained steady at August’s 0.2% reading.

The government expects inflation to average 0.1% in 2016 and 1.0% in 2017. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 0.3% in 2016, which is unchanged from last month’s forecast. For 2017, panelists project that inflation will accelerate to 1.2%.

Author: Jean-Philippe Pourcelot, Economist

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France Inflation Chart

France Inflation September 2016

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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