Retail

France sees CPI growth of 3.1% in January 2024

02 Feb '24

1 min read

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Insights

France's CPI is forecast to rise by 3.1 per cent in January 2024, a decrease from 3.7 per cent in December.
Monthly consumer prices are expected to dip by 0.2 per cent, influenced by lower costs in manufactured goods, particularly clothing and footwear.
The harmonised index of consumer prices is also set to decelerate to 3.4 per cent year-on-year.

France's consumer price index (CPI) is expected to increase by 3.1 per cent year-on-year in January 2024, marking a decrease from the 3.7 per cent rise observed in December, according to the recent provisional estimate by the National Institute of Statistics and Economic Studies (INSEE). This anticipated drop in the inflation rate is attributed to a slowdown in the prices of energy and manufactured products over the past year.

On a monthly basis, consumer prices are projected to slightly decline by 0.2 per cent in January 2024, following a modest increase of 0.1 per cent in December. The decrease is primarily due to lower prices in manufactured products, especially in the clothing and footwear sectors, as per INSEE.

Additionally, the harmonised index of consumer prices, which provides a standardised measure of inflation across the European Union, is also expected to show a deceleration. It is forecast to rise by 3.4 per cent year on year in January 2024, down from a 4.1 per cent increase in December. On a month-to-month comparison, this index is anticipated to decrease by 0.2 per cent.

Fibre2Fashion News Desk (DP)

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