France Inflation Confirmed at Almost 3-Year High

The annual inflation rate in France rose to 3.4% in October 2026, picking up from 3.1% in September, confirming preliminary estimates and marking its highest level since December 2023. The acceleration was driven mainly by energy prices, which surged 24.1% year-on-year, following a 21.3% increase in September, with petroleum product prices rising 38.5% and gas prices jumping 27.1%. Meanwhile, services inflation accelerated to 2.6% from 2.4%, while the decline in manufactured product prices eased to 0.2% from 0.3%. In contrast, food inflation slowed to 1.2% from 1.4%, while tobacco inflation remained unchanged at 3.3%. Core inflation increased to 1.7% from 1.5%. On a monthly basis, consumer prices rose 0.4%, rebounding from a 0.3% decline in September, mainly as services and energy prices increased. Meanwhile, the EU-harmonised annual inflation rate rose to 3.7% from 3.4%, while monthly HICP increased 0.4% after falling 0.3% in September.

France’s annual inflation rate rose to 3.4% in October 2026, picking up from 3.1% in September and overshooting expectations of 3.2%, according to preliminary estimates. This marked the highest reading since December 2023, as energy inflation accelerated to 24.1% from 21.3%, driven by higher natural gas and petroleum product prices. Meanwhile, services inflation increased to 2.7% from 2.4%, while the decline in manufactured product prices eased to 0.2% from 0.3% in September. In contrast, food inflation eased to 1.2% from 1.4%, particularly as fresh food prices moderated, while tobacco inflation remained unchanged at 3.3%. On a monthly basis, consumer prices rose 0.4% in October, following a 0.3% decline in September, driven by increases in services and energy prices, particularly gas, petroleum products and electricity. Meanwhile, the EU-harmonised annual inflation rate accelerated to 3.8% from 3.4%, while monthly HICP rose 0.4% after falling 0.3% in September.

The annual inflation rate in France came in at 3.1% in September 2026, revised up from the preliminary estimate of 3.0% and picking up from 2.4% in August. This marked the highest reading since January 2024, driven mainly by a sharp acceleration in energy inflation to 21.3% from 16.7%, particularly as petroleum product prices rose 36.2%. Meanwhile, services inflation accelerated to 2.4% from 1.9%, while food inflation increased to 1.4% from 1.1%. The decline in manufactured product prices also eased to 0.3% from 0.4%, while tobacco inflation remained unchanged at 3.3%. On a monthly basis, consumer prices fell 0.3%, following a 0.7% increase in August, as seasonal declines in services prices, particularly for accommodation and transport, outweighed further increases in energy prices. Meanwhile, the EU-harmonised annual inflation rate rose to 3.4% from 2.6%, while monthly HICP fell 0.3% after increasing 0.7% in August.