Key facts
- French inflation reached 3.4% in September, up from 2.6% in August.
- Energy prices saw a significant increase, rising to 21.2% year-on-year.
- Services inflation increased to 2.2% and food inflation to 1.5%.
Consumer prices in France rose 3.4% year-on-year in September on a harmonised basis, according to statistics office INSEE. This figure aligns with preliminary readings and represents an acceleration from August's 2.6% rate, reaching its highest level since January 2024. The pickup in inflation was broad-based, with energy prices accelerating to 21.2% from 16.7% in August. Services inflation also increased to 2.2% from 1.9%, and food inflation rose to 1.5% from 1.1%. These increases are likely to push up core inflation estimates. As France is the euro area's second-largest economy, its inflation data provides an early indication of broader euro area price pressures, potentially reinforcing concerns about persistent inflation above the European Central Bank's 2% target.