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France : CPI  
Released On 11/30/2018 2:45:00 AM For Nov (p), 2018
PriorConsensusActual
Month over Month0.1 %-0.1 %-0.2 %
Year over Year2.2 %2.0 %1.9 %

Highlights
Consumer prices provisionally fell 0.2 percent on the month in November. This reduced the annual inflation rate from a final 2.2 percent in October to 1.9 percent, its first sub-2 percent reading since April.

The flash HICP also declined 0.2 percent versus the start of the quarter which shaved its yearly rate from 2.5 percent to 2.2 percent.

The fall in annual CPI inflation was largely attributable to the more volatile items. Hence, the rate for food was down 0.3 percentage points at 1.9 percent while energy was off 2.5 percentage points at 11.3 percent. Manufactured products (minus 0.3 percent after minus 0.4 percent) edged marginally firmer, but remained in deflationary territory, but services (1.1 percent after 1.2 percent) were a little softer.

Having already seen a decline in inflation in Germany (see yesterday's report), today's French update increases the likelihood of a fall in overall Eurozone inflation this month (data due shortly). There is also probably some downside risk to the key underlying gauges.

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
 
 

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