France CPI figures released: inflation calms in January

By:
on Feb 29, 2024
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  • This morning, France's latest inflation figures were announced.
  • The country's inflation is calming, current CPI figures show.
  • Inflation rate was at 2.9% for February, Insee said.

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This morning, France’s Institut national de la statistique et des études économiques (Insee) released its latest inflation and GDP data for the country.

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According to Insee, consumer prices increased by 2.9% year on year in February 2024.

Although the figures were just provisional estimates, this is a significant improvement to the 3.1% of Insee’s January figures.

This was broadly in line with forecasts, although slightly higher, which mostly expected the inflation rate to be at around 2.7%.

The last figures for the country, on January 4th, showed the December inflation rate had increased by 3.7% year-on-year, up from November’s 3.5%.

Of the results, Insee said that:

This decrease in inflation should be due to the slowdown over one year in prices of food, manufactured products and services. Contrariwise, those of energy and tobacco should accelerate… consumer prices should rebound in February 2024 (+0.8% after ‑0.2% in January). This rebound should be due to the increase of prices of services, in particular rents and transports, and of those of energy, especially electricity, manufactured products and tobacco. Contrariwise, prices of food should decrease slightly over one month.”

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