FX.co ★ French Inflation Turns Negative in September as CPI Falls 0.3% MoM

France’s consumer price momentum reversed in September 2026, with the non-seasonally adjusted Consumer Price Index (CPI NSA) declining 0.30% month-over-month, down sharply from a 0.70% increase in August 2026. The latest reading, updated on 15 October 2026, highlights a notable cooling in price pressures after a strong rise in the previous month.

The month-over-month measure compares price changes in September to August, whereas the prior figure reflected the change from July to August. The swing from +0.70% to -0.30% suggests that some of the factors that had driven prices higher in late summer eased in early autumn, leading to an overall drop in the index. Investors and policymakers will be watching subsequent releases closely to determine whether this negative print signals a temporary correction or the start of a more sustained moderation in French inflation dynamics.