April consumer prices were unrevised in the final report. A 0.1 percent monthly rise put the CPI 1.2 percent above its level a year ago, up a tick from March's annual rate to equal its February mark.
The flash HICP was similarly unrevised and so still shows a 0.1 percent monthly increase and, for the third month in a row, a 1.4 percent yearly rate.
As indicated previously, the gentle acceleration in the headline annual rate reflected reduced deflation in manufacturing where prices fell 0.7 percent after a 1.0 percent drop last time. Services on the other hand saw their rate dip a tick to 1.0 percent.
Seasonally adjusted, the CPI again recorded no monthly change, matching its performance in March. However, the core index rose 0.2 percent on the month which was enough to lift the yearly underlying rate from 0.4 percent to 0.5 percent although this was still short of January's 0.7 percent peak.
All in all deflation risks seem to be much less of a threat to the French economy but underlying prices are still only recovering slowly – and will probably need faster growth of domestic demand if they are to continue to do so.