French preliminary CPI down 0.1% in September

Over a year, the Consumer Price Index (CPI) should rise by 1.0% in September 2017, after +0.9% in the previous month, according to the provisional estimate made at the end of the month. This increase in year-on-year inflation should come from an acceleration in food prices and in energy prices and also a lesser drop in manufactured product prices. Services prices should slow down slightly.

Over one month, consumer prices should edge down (-0.1%) after a rebound in August. This decline should mainly come from a seasonal rebound in services prices, essentially those of tourism-related services. Moreover, food prices should fall after a stability in the previous month. Energy prices should slow a little, the stability in gas and electricity prices moderating a sharp rise in the prices of petroleum products. On the other hand, manufactured product prices should accelerate after a seasonal rebound in August.

Year on year, the Harmonised Index of Consumer Prices should increase a little faster, to +1.1% after +1.0% in August. Over one month, it should edge down: -0.1% after a rebound to +0.6% in the previous month.