| Consensus | Consensus Range | Actual | Previous | |
| Month over Month | 0.1% | 0.1% to 0.1% | 0.1% | 0.1% |
| Year over Year | 0.8% | 0.8% to 0.8% | 0.8% | 0.8% |
| HICP - M/M | 0.1% | 0.1% to 0.1% | 0.1% | 0.1% |
| HICP - Y/Y | 0.7% | 0.7% to 0.7% | 0.7% | 0.7% |
Highlights
The December 2025 inflation data point to a low-inflation environment shaped by contrasting sectoral dynamics. Headline CPI rose modestly by 0.1 percent on the month, reflecting seasonal pressures in services, particularly transport, alongside a mild pickup in food prices. These upward forces were largely offset by renewed declines in energy and manufactured goods prices, keeping overall price growth subdued.
On an annual basis, inflation eased slightly to 0.8 percent, confirming that disinflationary forces remain dominant. The sharper year-over-year fall in energy prices, driven by declines in petroleum products, gas, and electricity, was the primary drag on headline inflation. This energy relief continues to buffer households against broader price pressures. Services inflation slowed marginally, suggesting easing cost pressures in areas such as health, rents, and insurance, although accommodation and vehicle-related services showed renewed firmness.
Food inflation, however, accelerated, reflecting a reduced pace of decline in fresh food prices and steady increases in staples such as meat and cereals. Core inflation edged up to 1.1 percent, signalling that underlying price pressures persist despite headline moderation. Overall, the latest update suggest inflation is contained, but increasingly reliant on energy-driven disinflation rather than broad-based price stability, taking the RPI to 11 and the RPI-P to 25. This means that economic activities are outperforming the expectations of the French economy.
Market Consensus Before Announcement
Forecasters see no revision in the final report for December from the flash at 0.1 percent and 0.8 percent on year.