France's Inflation Rate Rises

In January, France witnessed a slight uptick in its annual inflation rate, reaching 1.4%, up from 1.3% in December, as per the preliminary estimates released by INSEE, the country's statistical office, on Friday.

Key Drivers Behind the Increase

Tobacco prices led the surge with a 6.0% increase compared to January 2024, followed by energy prices at 2.8%, and services at 1.9%. In contrast, food prices saw a minimal rise of 0.1%.

Month-on-Month Changes

When compared to December, the Consumer Price Index (CPI) experienced a slight decrease of 0.1%. Similarly, the Harmonized Index of Consumer Prices (HICP) saw a year-on-year increase to 1.8%, while it declined by 0.2% month-on-month.