Inflation in France revised slightly upwards, to 3% over one year, according to INSEE

This rebound is due in particular to the increase in the prices of services, notably rents and transport, as well as those of energy, manufactured products and tobacco.

The lull continues all the same. Linflation slowed slightly in France to 3% year-on-year in February, after 3.1% in January, according to final data communicated by the National Institute of Statistics, Friday March 15. INSEE therefore revises slightly upwards its first estimates of 2.9%. Between January and February, prices increased by 0.9% after -0.2% in January. This rebound is due in particular to the increase in the prices of services, notably rents and transport, as well as those of energy, manufactured products and tobacco, according to INSEE.

The drop in inflation over one year is due in particular to “basic effects”specifies INSEE, because prices had increased significantly over one month in February 2023. It is also linked to the slowdown in the prices of food (+3.6% after +5.7% in January), manufactured products (+0.3% after +0.7%) and services (+3 .1% after +3.2%). In food, the slowdown is spectacular for the prices of fresh products (+0.5% over one year after +7.9% in January and +15% in January 2023). On the other hand, the prices of energy (+4.4% over one year in February, after +1.9% in January) and tobacco (+18.7% over one year after +16.8%) are increasing. .

Over one year, the harmonized consumer price index (HICP), which is used for European comparisons, stood at 3.2% in February, after +3.4% in January. It rebounded by 0.9% over one month after -0.2% in January while core inflation, which excludes the most fluctuating elements such as energy and certain food products, decreased over one year to +2 .7% in February 2024, after +3.0% in January. In 2023, inflation in France had slowed to 4.9% on average after 5.2% in 2022.