FX.co ★ French HICP Slips Further Into Negative Zone in November 2025

In a surprising turn of events, the French Harmonized Index of Consumer Prices (HICP) has dipped to -0.2% in November 2025, as reported on December 12th. This follows an uninspiring 0.1% increase in the previous month of October 2025. The month-over-month comparison shows a distinct shift, with the index not only stopping growth but shrinking further into the negative domain compared to the previous month's slight growth.

The decline in the HICP, a critical metric for assessing inflation and cost-to-consumer shifts within the Eurozone's second-largest economy, signals potential deflationary pressures. This downward trend will undoubtedly prompt investors and policy-makers to scrutinize the factors contributing to this unexpected turn, including potential influences like energy prices, consumer demand, and broader economic conditions.

As the French economy braces for the implications of this downturn in consumer price growth, economists will be keen to watch upcoming economic indicators to determine if this negative trajectory is a short-lived anomaly or indicative of a more sustained challenge for the Eurozone powerhouse.