France’s Harmonised Index of Consumer Prices (HICP) inflation slowed in January 2026, easing to 0.4% year-over-year from 0.7% in December 2025. The latest figure, updated on 3 February 2026, indicates a further moderation in consumer price growth when measured against the same month a year earlier.
The year-over-year comparison shows that while prices are still rising, the pace of inflation continues to decelerate. In December, the previous reading reflected a 0.7% increase versus December a year earlier, whereas January’s 0.4% print marks a softer gain compared with January of the prior year.
This trend in the French HICP, which is harmonised across EU member states for comparability, will be closely watched by market participants and policymakers as they assess inflation dynamics in the euro area’s second-largest economy and the potential implications for future monetary policy decisions at the European level.
