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France : CPI  
Released On 4/12/2018 2:45:00 AM For Mar(f), 2018
PriorConsensusActual
Month over Month1.0 %1.0 %1.0 %
Year over Year1.5 %1.5 %1.6 %

Highlights
Consumer prices posted an unrevised 1.0 percent monthly bounce in the final data for March. However, the annual inflation rate was still revised a tick firmer and, at 1.6 percent, was up 0.4 percentage points from its final February mark.

The final HICP matched its flash estimates and so still shows a 1.1 percent increase versus mid-quarter and a 1.7 percent yearly rate, also 0.4 percentage points higher than last time.

The acceleration in the annual CPI rate was largely due to a sharper rise in services (1.4 percent after 1.1 percent) where package holiday inflation jumped from 0.6 percent to 16.2 percent due to a shift in school holidays. This impact should prove only temporary. Otherwise, food (1.5 percent after 0.8 percent) and tobacco 16.6 percent after 4.9 percent) which was hit by an increase in taxes, also provided significant support. By contrast, manufacturing (minus 0.3 percent after 0.1 percent) dipped back into deflationary territory.

Prices are seasonally strong in March but even adjusted for such factors the CPI rose a firm 0.5 percent on the month. However, at least part of this will reflect temporary or one-off factors and the underlying picture remains soft. The core CPI was up 0.3 percent versus February which put its yearly rate at 0.9 percent, just a tick higher than last time.

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
 
 

2018 Release Schedule
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