France Inflation

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France: Inflation rises in October after touching lowest level in nearly five years in September

November 13, 2014

Consumer prices in October were unchanged over the previous month, which came in above the 0.4% fall recorded in September. The print overshot the 0.1% drop the markets had expected. As the National Statistics Institute (INSEE) reported, October’s result showed that higher prices for fresh food compensated for lower prices for petroleum products.

Annual inflation rose from 0.3% in September to 0.5% in October, which represented the first rise since April. Core consumer prices, which exclude more volatile items such as oil, fruit and vegetables, were unchanged in October over the same month last year and followed a similar reading in September.

Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) edged up from September’s 0.4% to 0.5% in October. Annual average HICP inflation was unchanged in October at September’s 0.7%.

The government expects inflation to average 0.5% this year, before accelerating to 0.9% in 2015. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 0.9% in 2014, which is unchanged from last month’s forecast. For 2015, panelists project that inflation will accelerate to 1.1%, which is unchanged over the previous month’s Consensus.


Author:, Senior Economist

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France Inflation Chart


France Inflation October 2014

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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