French architecture in France

France Inflation

France Inflation

Inflation in France

France experienced generally low inflation from 2013 to 2022, with rates mostly below 2%. This trend mirrored the broader Euro area's economic situation, characterized by subdued growth and muted price pressures. The impact of the COVID-19 pandemic and higher global commodity prices saw a notable uptick in inflation in 2022 to close to around 6%, though this was lower than the Euro area average.

Harmonized consumer price inflation averaged 1.5% in the ten years to 2022, below the Euro Area average of 1.8%. The 2022 average figure was 5.9%. For more inflation information, visit our dedicated page.

France Inflation Chart

Note: This chart displays Inflation (HICP, ann. var. %, aop) for France from 2014 to 2023.
Source: I.N.S.E.E..

France Inflation Data

2018 2019 2020 2021 2022
Inflation (HICP, ann. var. %, aop) 2.1 1.3 0.5 2.1 5.9
Inflation (CPI, ann. var. %, eop) 1.6 1.5 0.0 2.8 5.9
Inflation (HICP, ann. var. %, eop) 1.9 1.6 0.0 3.4 6.7
Inflation (Core, ann. var. %, aop) 0.8 0.8 0.6 1.1 3.8
Inflation (PPI, ann. var. %, aop) 2.7 0.4 -2.2 9.3 25.5

Harmonized inflation rises in December

Harmonized inflation came in at 4.1% in December, up from November’s 3.9%. Looking at the details of the release, transportation and housing and utilities prices rose at quicker rates in December compared to the previous month. On the flip side, price pressures for food and non-alcoholic beverages softened. The trend pointed down mildly, with annual average harmonized inflation coming in at 5.7% in December (November: 5.9%). Meanwhile, consumer price inflation ticked up to 3.7% in December, from the previous month's 3.5%. Finally, harmonized consumer prices increased 0.14% in December over the previous month, contrasting November's 0.24% fall.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects French inflation projections for the next ten years from a panel of 32 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for French inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our French inflation projections.

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