French inflation picks up to 1.7% as expected

French inflation picked up as expected in November as consumer price growth continued to rebound from a three-year low in September, according to preliminary estimates released on Friday by INSEE.

The harmonised index of consumer prices registered a 1.7% rise compared with last November, up from 1.6% the month before, INSEE reported.

This was in line with the consensus estimate, as inflation continues to accelerate after sinking to 1.4% in September – its lowest since March 2021.

Annual food price inflation slowed to just 0.2% in November from 0.6% the month before, with the rise in fresh food sinking to just 1.8% from 4.5%.

Meanwhile, energy price deflation eased to just -0.7% from -2.0%, while service-sector inflation picked up to 2.5% from 2.3%.