After several years of economic tensions linked to the health crisis and the war in Ukraine, inflation in France continued to decline in 2024. Consumer prices increased by only 1.3% in December year-on-year. , marking a welcome stabilization.
Inflation stabilized at the end of the year
The year 2024 confirmed a clear decrease in inflation in France, offering notable relief to consumers. According to data published this Tuesday by INSEE, consumer prices increased by 1.3% year-on-year in December, a figure identical to that of November. Over the whole year, average inflation stood at 2%, a level down sharply compared to the 4.9% recorded in 2023. These figures mark a break with the economic tensions of recent years. , particularly due to the surge in energy prices.
This decline can be explained by several factors, including a stabilization of food prices and a notable drop in manufactured products. For example, energy prices experienced a slight rebound in December (+1.2%), but this increase was offset by a slowdown in other sectors. Services (+2.3%) and tobacco (+8.7%) maintained stable rates compared to the previous month.
A gradual exit from the inflationary crisis
This decline is part of a trend that began after the historic peak of 5.2% in 2022, following the post-Covid crisis and the impact of the war in Ukraine on raw materials.. « The inflationary episode is well and truly behind us », Confirmed Mathieu Plane, deputy director of the French Observatory of Economic Conditions (OFCE). According to him, the decline in energy prices allowed for a more rapid recovery than expected, contributing to this notable improvement.
For 2025, the outlook remains optimistic. INSEE forecasts an increase limited to 1% in June, while the Banque de France expects moderate levels between 1.6% and 1.9% over the next three years. Experts attribute this slowdown to a combination of factors, including a possible reduction in regulated electricity prices from February 2025.
If these forecasts are confirmed, they could mark a return to more stable economic conditions, in line with the 2% objective set by the European Central Bank. A stabilization which would particularly benefit French households, for whom this period of disinflation is seen as a breath of fresh air after years of pressure on their purchasing power.
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