France’s inflation rate excluding tobacco accelerated to 1.70% year-over-year in March 2026, up sharply from 0.90% in February, according to data updated on 15 April 2026. The figures, measured on an annual comparison basis, mark a notable re-acceleration in underlying price pressures after a period of relatively muted growth.
The “previous” reading of 0.90% in February 2026 reflected the change in prices versus February a year earlier, while the “actual” March reading compares price levels to March of the prior year. The near-doubling of the rate between February and March suggests that disinflationary trends seen earlier may be fading, with underlying inflation dynamics in France beginning to firm.
While detailed drivers of the move were not provided, the March data indicate that core price pressures are no longer as subdued as in previous months, a development likely to draw close attention from policymakers and market participants watching the trajectory of French and euro area inflation through 2026.
