France's consumer price index rose in line with forecasts in November

According to the report from INSEE, in December 2020, the Consumer Price Index (CPI) rose by 0.2% over one month, as in November 2020. The service prices (+0.5% after +0.1%) and those of energy (+1.7% after +0.3%) accelerated significantly. The prices of tobacco were stable after a rebound the previous month (+4.9% in November). The food prices fell back (–0.4% after +0.6%) and those of manufactured goods decreased more than in the previous month (–0.4% after –0.3%)

Seasonally adjusted, consumer prices were stable in December, after +0.4% in November.

Year on year, consumer prices were stable, after +0.2% in the previous month. The food prices were less dynamic than in the previous month (+1.0% after +2.0%) and those of manufactured goods decreased more sharply (–0.9% after –0.3%). The prices of services (+0.7%) and those of tobacco (+12.5%) increased, year on year, at the same rate as in November. The decrease in the energy prices softened (–7.0% after –7.8%).

Year on year, core inflation decreased, in December, to +0.2% after +0.4% in November. The Harmonised Index of Consumer Prices (HICP) rose by 0.2% over a month as in the previous month; year on year, it was stable after +0.2% in November.