The Consumer price inflation in France attained a value of 2.23 % in 2024
The indicator recorded a historical change (bps difference) of 59 bps between 2021 to 2024, and is expected to grow by...
GlobalData projects the figure to change by 62 bps between 2025 and 2029, reaching...
Inflation
Inflation is an upsurge in the level of prices of the goods and services in an economy, which leads to a decline in the purchasing power of the currency’s value. It is calculated as the rate of change in prices in a specific period. The consumer price index (CPI) is one of the most common indicators for measuring inflation in an economy.
Global Inflation
Global inflation is a measure of the average annual rate of growth increase in national prices across all countries. It can be calculated using various methods including simple average, weighted average, and median price change. Global Data forecasts that the world economy will grow at a slower pace of 3.5% in 2022 following a 5.9% growth in 2021. On the other hand, the global inflation rate is projected to rise to 6.5% in 2022 from 3.5% in the previous year due to supply chain disruption amid the Ukraine-Russia war.
Consumer Price Inflation in France
Between 2018-2021, the consumer price inflation in France was highest in the year 2021, reaching 1.6%, an increase of 2.42% over the previous year 2020. Between 2018 to 2021, France’s consumer Inflation decreased by 0.1%.
In 2021, inflation rose to 1.6%, due to the rising demand for goods and services with the reopening of the economy. According to the National Institute of Statistics and Economic Studies, the inflation rate rose to 5.8% in June 2022 fueled by a 33.1% rise in energy prices and a 5.7% hike in food prices. With a pickup in global demand along with rising in food and oil prices, inflation is forecast to reach 4.9% in 2022, according to Global Data. The annual average rate of inflation is forecast at 2.3% during 2023–24.
Factors that Impact Inflation Rate
Some of the major factors affecting consumer prices are government policies, money supply, consumer spending, employment levels, high disposable income, and wage levels. Interest rates can also have a significant impact on spending on consumer goods.
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