France's consumer price index remained unchanged in February

According to the report from INSEE, in February 2021, the Consumer Price Index (CPI) was stable over one month, after +0.2% in January. The decrease in manufactured goods prices accentuated due to the two-week extension of the winter sales (–0.9% after –0.4%). The food prices fell back (–0.2% after +0.4%) and those of tobacco were stable. The service prices grew (+0.2% after +0.1%) and those of energy accelerated (+2.5% after +1.7%).

Seasonally adjusted, consumer prices fell back by 0.1%, after +0.7% in January.

Year on year, consumer prices rose by 0.6% as in the previous month. This stability in inflation came from a downturn in manufactured goods prices (–0.4% after +0.8%) and a slowdown in food prices (+0.8% after +1.0%), offset by the smaller decline in energy prices than in the last month (–1.6% after –5.8%) and the slight rise in tobacco prices (+12.8% after +12.7%). The service prices increased at the same rate as in the previous month (+0.8%).

Year on year, core inflation fell, in February, down to +0.6% after +1.0% in January. The Harmonised Index of Consumer Prices (HICP) was stable over one month after +0.3% in the previous month; year on year, it increased by 0.8% as in January.