FX.co ★ France Inflation Almost Doubles in March

France’s annual inflation rate accelerated to 1.7% in March 2026, its highest level since January 2025, up from 0.9% in February and slightly above the consensus forecast of 1.6%, according to preliminary estimates. The rise was mainly driven by a sharp rebound in energy prices, which increased for the first time since early 2025 (+7.3% vs -2.9% in February), particularly in petroleum products, reflecting the impact of the war with Iran. Service prices also inched higher (1.7% vs 1.6%), as did tobacco prices (3.2% vs 3%). By contrast, prices of manufactured goods fell at a faster pace than in February (-0.6% vs -0.2%), while food price inflation eased slightly (1.8% vs 2%). On a monthly basis, the consumer price index (CPI) rose by 0.9%, the strongest increase since February 2024, again largely due to energy.