FX.co ★ French HICP Rebounds in July, Snapping June’s Decline

France’s Harmonised Index of Consumer Prices (HICP) turned positive in July 2026, reversing the previous month’s decline and signaling a renewed uptick in consumer prices. On a month‑over‑month basis, HICP rose by 0.6% in July, compared with a 0.3% decrease in June 2026.

The data, updated on 31 July 2026, show a clear shift in short‑term inflation dynamics. While June’s −0.3% reading indicated a temporary softening in price pressures versus May, July’s rebound suggests that this easing was short‑lived. The latest figure means that, relative to June, consumer prices in France moved higher, after having fallen from May to June.

The month‑over‑month comparison framework highlights how quickly conditions have changed: the “previous” indicator captured weakening prices in June, whereas the “actual” July reading points to renewed momentum in inflation as the French economy moves through the summer period.