FX.co ★ France September Inflation Revised Up to 3.1%

France’s annual inflation rate stood at 3.1% in September 2026, revised up from the preliminary estimate of 3.0% and up from 2.4% in August. This was the highest rate since January 2024, driven primarily by a sharp acceleration in energy prices, with energy inflation rising to 21.3% from 16.7%. Within energy, petroleum product prices surged by 36.2%.

Services inflation also accelerated, climbing to 2.4% from 1.9%, while food inflation increased to 1.4% from 1.1%. The decline in manufactured goods prices moderated slightly, with prices falling 0.3% compared with a 0.4% drop previously. Tobacco inflation remained stable at 3.3%.

On a monthly basis, consumer prices fell by 0.3% in September, following a 0.7% increase in August. Seasonal declines in services prices—particularly in accommodation and transport—more than offset further rises in energy prices.

The EU-harmonised inflation rate (HICP) rose to 3.4% year-on-year in September from 2.6% in August, while the monthly HICP declined by 0.3% after a 0.7% increase in the previous month.