In November 2024, France’s annual inflation rate increased slightly to 1.3%, marking the highest level in three months. Based on early estimates, this was somewhat more than the 1.2% rate in October but less than the predicted 1.5%.
Inflation almost stayed the same overall because slower increases in food prices (up just 0.2% compared to 0.6% before) were balanced by bigger rises in service costs (up 2.5% from 2.3%) and a smaller drop in energy prices (down 0.7% instead of 2%).
Prices for manufactured goods fell by 0.2%, the same as in October, and tobacco prices jumped by 8.7%, also matching the previous month. Compared to the month before, consumer prices edged down by 0.1%, after a 0.3% rise in October, mainly due to transportation costs.
The EU-harmonized Consumer Price Index (CPI) increased by 1.7% over the year, slightly above the 1.6% in October and matching expectations. On a monthly basis, it also decreased by 0.1%.