France Taux d'inflation

France's annual inflation rate ticked up to 1.2% in October 2024, from a 3-1/2-year low of 1.1% in the prior month and matching an earlier estimate. The main upward pressure came from prices of services (+2.3% vs +2.4% in September), on account of transports (+4.1%) and rent, water and household waste removal (+2.9%); alongside tobacco products (8.7%, the same rate as in September). At the same time, prices increased slightly faster for food (0.6% vs 0.5% in September), driven by fresh products (4.5% vs 2.6%). Meanwhile, prices declined less for energy (-2% vs -3.3%) and manufactured products (-0.2% vs -0.3%). Monthly, the CPI increased by 0.3%, exceeding the preliminary estimate of a 0.2% rise and following a 1.2% decrease in September. The EU-harmonized annual inflation rate rose to 1.6%, slightly above the preliminary estimate of 1.5% and September's rate of 1.4%. The harmonised CPI went up 0.3%, in line with the preliminary estimate and following a 1.3% fall the month before.