France Inflation March 2017


France: Inflation stable in March

April 12, 2017

According to revised figures released by the National Statistical Institute (INSEE) on 13 April, consumer prices rose from 0.1% in February to a revised over one-year high of 0.6% in March (previously reported: +0.7 month-on-month). The reading reflects higher prices for food, tobacco and energy, which more than offset lower prices for manufactured goods.

Inflation in March remained stable at February’s 1.2% (previously reported: 1.1%). The reading reflects a decline in prices for services, energy and food products. Meanwhile, annual average inflation inched up to 0.5% from February’s 0.4%.

Harmonized consumer prices (based on the harmonized index of consumer prices (HICP)) rose 0.7% in March, coming in above the 0.2% increase observed in the previous month. Harmonized inflation came in at 1.4% in March (February: +1.4% year-on-year). Meanwhile, annual average HICP inflation picked up from 0.5% in February to 0.7% in March.

FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.3% in 2017, which is unchanged 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 March 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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