France’s annual inflation rate rose to 2.4% in May 2026, up from 2.2% in April, in line with preliminary estimates. This was the highest rate since February 2024 and was driven mainly by energy prices, which increased 16.6% year-on-year compared with 14.3% in April, largely reflecting a sharp rebound in gas prices (11.3% vs -3.1%).
Services inflation accelerated to 2.1% from 1.8%, while food price inflation eased slightly to 1.1% from 1.2%. Prices of manufactured goods declined by 0.6%, and tobacco inflation was unchanged at 3.2%.
On a monthly basis, the consumer price index (CPI) rose 0.1% in May, a marked slowdown from the 1.0% increase in April. Energy prices continued to rise but at a much slower pace (0.6% vs 4.7%), as higher gas prices were partly offset by a drop in petroleum product prices (-1.9% vs 8.2%). Food prices increased 0.3%, driven by fresh products, while prices for manufactured goods edged up 0.1%. Prices for services and tobacco were stable on the month.
Meanwhile, the EU-harmonised index of consumer prices showed annual inflation rising to 2.8% in May from 2.5% in April, while the monthly rate increased 0.1% after a 1.2% gain in April.
