According to INSEE, consumer prices increased by 1.3% in December. Over the whole of 2024, average inflation stands at 2%.
Consumer prices in France increased by 1.3% in December over one year, an identical development to that of November, INSEE said on Tuesday.
In December, energy prices recorded a slight rebound which was offset by the continued decline in those of manufactured products and the stagnation of food prices, according to the provisional estimate of the National Institute of statistics and economic studies.
On average over the whole of 2024, this means that inflation stands at 2%.
Service-driven inflation
Prices of services, which represent more than half of the household consumption basket, increased by 2.3% year-on-year, as in November. Those of tobacco increased by 8.7%, also stable over one year compared to the previous month.
Over one month, consumer prices increased by 0.2% in December, according to the provisional estimate, after a decline of 0.1% in November. INSEE attributes it to the increase in prices of services, particularly transport, and petroleum products.
The harmonized consumer price index (HICP), which allows comparisons between European countries, increased by 1.8% in December year-on-year, after 1.7% in November. It is up 0.2% over one month after -0.1% in November.
For 2025, INSEE said in December that it foresees a “gloomy” start to the year for the French economy, while the government is trying to provide the country with a budget which would be marked by a budgetary effort of 50 billion euros. The institute sees inflation falling to 1% in June.
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