France’s National Statistics Office (INSEE) unveiled preliminary estimates today (April 30), indicating a dip in the country’s Consumer Price Index (CPI) to 2.2% year-on-year in April 2024, down from 2.3% in March.
Although slightly higher than analysts’ projections of 2.1% inflation for April, the decrease from the previous month suggests a potential easing of price pressures.
On a monthly basis, France’s CPI recorded a 0.5% increase in April, marking a notable uptick from the 0.2% rise observed in March.
Meanwhile, France’s Harmonized Index of Consumer Prices (HICP), aligned with the European Union’s standards, maintained a year-on-year rate of 2.4% in April, unchanged from March’s level. However, it surpassed analysts’ forecasts of 2.2% inflation.
Similarly, the monthly HICP index for France surged by 0.6% in April, compared to a 0.2% uptick in March, exceeding analysts’ expectations of a 0.5% increase.
The preliminary inflation data reflects ongoing fluctuations in consumer prices, signaling potential shifts in the country’s inflationary trajectory. Further analysis will be crucial in understanding the broader economic implications of these trends for France and the Eurozone.