FX.co ★ French Inflation Turns Negative in January as CPI Falls 0.3% Month-on-Month

France’s consumer price dynamics weakened at the start of the year, with the country’s Consumer Price Index (CPI) posting a month-on-month decline in January 2026. The CPI fell by 0.3% compared with the previous month, reversing the slight 0.1% increase recorded earlier.

Both the previous and current readings relate to January 2026, but reflect different comparison bases: the earlier 0.1% figure measured price growth from November to December, while the updated -0.3% result shows how prices changed from December to January. The fresh data, updated on 18 February 2026, indicates that France entered the new year with a mild bout of monthly deflation, as overall consumer prices edged down compared with the prior month.

On a month-over-month basis, the shift from a 0.1% rise to a 0.3% decline suggests easing price pressures in the French economy, an important signal for policymakers and investors tracking the trajectory of inflation and its potential impact on monetary and fiscal planning.