France’s annual inflation rate rose to 1.7% in March 2026, up from 0.9% in February, confirming the preliminary estimate and reaching its highest level since January 2025. The acceleration was primarily driven by a strong rebound in energy prices (+7.4% vs -2.9% in February), particularly for petroleum products such as diesel, petrol, and liquid fuels, reflecting the impact of the war in Iran.
Services inflation inched up to 1.7% from 1.6%, supported by higher transport and communication costs, while tobacco prices also accelerated (+3.2% vs +3.0%). By contrast, food inflation eased slightly to 1.8% from 2.0%, and prices of manufactured goods fell at a faster pace (-0.5% vs -0.2%).
On a monthly basis, the consumer price index (CPI) climbed 1.0% in March, up from 0.6% in February, largely reflecting the jump in energy prices, especially petroleum products. Meanwhile, the EU-harmonised CPI increased 2.0% year-on-year, its highest reading since August 2024, and rose 1.1% on the month, the largest monthly gain since August 2023.
