France CPI rose +0.7% MoM and +1.0% YoY (vs +0.8% YoY expected) in February 2026, rebounding from the low 0.3% YoY increase recorded in January 2026.

• CPI annual inflation accelerated to +1.0% (Jan: +0.3%), partly due to a smaller decline in energy prices driven by electricity base effects.

• Monthly CPI increased +0.7% after -0.3% in January, reflecting seasonal rises in transport services and manufactured goods after sales ended.

• Food prices increased YoY to +2.1% (Jan: +1.9%), with fresh food accelerating to +3.1% while other food products held at +2.0%.

• Services inflation edged up to +1.8% YoY (Jan: +1.7%), contributing to the monthly rebound.

• Manufactured goods prices remained negative at -0.3% YoY (Jan: -1.2%), showing a slower pace of decline.

• Energy prices were -3.0% YoY (Jan: -7.6%), indicating reduced deflation pressure.

• Tobacco inflation rose to +3.0% YoY (Jan: +2.7%), continuing gradual acceleration.

• HICP increased +0.8% MoM and +1.1% YoY (Jan: -0.4% MoM; +0.4% YoY), confirming broader inflation firming.

France’s CPI dropped -0.3% MoM and slowed to +0.3% YoY in January, down from +0.8% in December, with the deceleration mainly driven by a steeper drop in manufactured product prices, particularly clothing and footwear.

• Manufactured products fell -1.2% YoY (Dec: -0.4%), marking a deeper annual contraction linked to an extended winter sales period.

• Energy prices declined -7.8% YoY (Dec: -6.8%), indicating faster deflation in energy costs and a larger downward pull on overall inflation.

• Services inflation slowed to +1.8% YoY (Dec: +2.1%), partly reflecting more moderate increases in health service fees compared with last year.

• Food inflation edged up to +1.9% YoY (Dec: +1.7%), with fresh food rebounding to +1.4% YoY (from -0.4%) while other food products held at +2.0%.

• Tobacco price growth cooled to +2.8% YoY (Dec: +4.1%), showing a deceleration linked to base effects.

• The Harmonised Index of Consumer Prices (HICP) increased +0.4% YoY (Dec: +0.7%) and declined -0.4% MoM, closely tracking the softer national CPI trend.

France’s CPI rose +0.8% YoY in December 2025 (down from 0.9% YoY in November) and increased +0.1% MoM, reflecting softer energy prices alongside firmer food inflation.

• Headline CPI slowed to +0.8% YoY (from +0.9%), with the deceleration mainly driven by a more pronounced decline in energy prices, particularly petroleum products.

• Energy prices fell -6.8% YoY (Nov: -4.6%), marking a deeper annual contraction and exerting the largest downward pressure on headline inflation.

• Food inflation accelerated to +1.7% YoY (Nov: +1.4%), led by a pickup in fresh food prices (-0.4% YoY vs -2.8% previously) and continued strength in other food products (+2.0% YoY).

• Manufactured goods prices declined -0.4% YoY, easing slightly from -0.6% in November and indicating a slower pace of deflation in this category.

• Services inflation was unchanged at +2.2% YoY, remaining the most persistent source of price pressure within the CPI basket.

• Tobacco prices rose +4.1% YoY, matching November’s pace and continuing to post one of the highest inflation rates among components.

• On a monthly basis, CPI rebounded +0.1% MoM (Nov: -0.2%), driven by a seasonal increase in services prices, especially transport, partially offset by further declines in energy and manufactured products.

• The Harmonised Index of Consumer Prices (HICP) increased +0.7% YoY (Nov: +0.8%) and rose +0.1% MoM, closely mirroring the national CPI pattern.