2017 Economic Calendar
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France : CPI  
Released On 1/31/2017 2:45:00 AM For Jan(p), 2017
PriorConsensusActual
Month over Month0.3 %-0.5 %-0.2 %
Year over Year0.6 %1.4 %

Highlights
Consumer prices held up rather better than expected this month. A provisional 0.2 percent monthly decline was less than half the expected fall and, combined with favourable base effects, enough to lift the annual inflation rate by fully 0.8 percentage points to 1.4 percent, equalling its highest mark since October 2012.

The flash HICP followed suit, also posting a 0.2 percent drop versus November for a 1.6 percent yearly gain, double the mid-quarter rate.

The acceleration in the yearly CPI rate in large part reflected the strength of food (1.3 percent after 0.7 percent) and, in particular, energy (10.0 percent after 4.3 percent) where higher oil prices combined with a hike in taxes on petroleum products. Overall manufactured goods inflation climbed from minus 1.0 percent to minus 0.3 percent while services saw a smaller 0.2 percent increase to 1.1 percent.

Today's headline data are misleadingly firm and the core index will look notably softer when the final report is released next month. Still, if rising actual inflation can boost households' inflation expectations, there may be room for underlying prices to start firming too. Certainly, this is what the ECB will be hoping.

Definition
The consumer price index (CPI) is a measure of the average price level of a fixed basket of goods and services purchased by consumers. Monthly and annual changes in the CPI represent the main rates of inflation. The national CPI is released alongside the HICP, Eurostat's harmonized measure of consumer prices. A flash estimate was released for the first time in January 2016 and is now published towards the end of each reference month.  Why Investors Care
 
 

2017 Release Schedule
Released On: 1/31/121/312/212/283/153/314/134/285/165/316/156/307/137/28
Release For: DecDecJanJanFebFebMarMarAprAprMayMayJunJunJul
 
Released On: 8/118/319/149/2910/1210/31
Release For: JulAugAugSepSepOct
 


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