France’s CPI to rise by 2.2% in April ’24, data Shows

France’s Consumer Price Index (CPI) is projected to rise by 2.2 per cent in April 2024, according to provisional estimates, a slight decrease from the 2.3 per cent increase observed in March, as per the National Institute of Statistics and Economic Studies Tuesday’s data.

This dip in inflation is attributed partly to the deceleration of food and tobacco prices and a minor year-on-year decrease in the prices of manufactured products. Conversely, energy prices are expected to accelerate. The price of services is predicted to rise at the same rate as the previous month.

On a monthly basis, consumer prices are expected to accelerate in April 2024 by 0.5 per cent after 0.2 per cent in March, primarily due to an increase in the prices of services, particularly transport and “other services.

However, energy prices are expected to decrease again over the month, albeit at a slower pace than the previous month, while the prices of manufactured products and food should remain nearly stable.

Year on year, the Harmonised Index of Consumer Prices is expected to rise by 2.4 per cent in April 2024, mirroring the increase seen in March. Over one month, it is expected to accelerate by 0.6 per cent after 0.2 per cent in the previous month.