French inflation hits 3.4%, the highest since late 2023

What happened. INSEE published final October 2026 inflation data. Consumer prices rose 3.4% on the year after 3.1% in September. On the month, prices rose 0.4% after a 0.3% fall in September. The first estimate from October 30 was confirmed.

What got pricier. Energy rose 24.1% on the year, speeding up for a fourth month in a row. Services rose 2.6% after 2.4%. On the month, gas rose 5.5% and transport services 8.5%. Core inflation, which leaves out the most volatile prices, also rose.

What slowed. Food prices are rising more slowly: 1.2% on the year after 1.4%. Manufactured goods were 0.2% cheaper than a year ago.

On the EU measure. The harmonised index, used to compare EU countries, rose 3.7% on the year after 3.4% in September. INSEE revised it down 0.1 point from the first estimate. Reuters reports this is the highest level since December 2023.

حقائق مؤكدة

• French consumer prices rose 3.4% in October 2026 from a year earlier, after 3.1% in September.^[1]
• On the month, prices rose 0.4% after a 0.3% fall in September.^[1]
• Energy rose 24.1% on the year after 21.3%, speeding up for a fourth month in a row.^[1]
• Services rose 2.6% on the year after 2.4%, food 1.2% after 1.4%, and manufactured goods fell 0.2%.^[1]
• Harmonised inflation rose to 3.7% from 3.4% in September and was revised down 0.1 point from the first estimate.^[1][2]
• Harmonised inflation in France is at its highest since December 2023.^[2]
• The consumer price index last rose faster in December 2023, at 3.7%.^[3]
• November flash data is due on November 27 and final data on December 11, 2026.^[1]

التبعات

• مؤكدFrench inflation sped up for a second month in a row, mostly because of energy.
• قراءتناRising prices in France, Germany and Spain make it harder for the ECB to cut rates.

لا يزال مجهولًا

• When energy in France will get cheaper following oil.
• How the ECB will read the rise at its next meeting.

من يتأثر

France, Europe. People living in France, holding euros or following the ECB rate and European stocks

المصادر

1. INSEE: En octobre 2026, les prix à la consommation augmentent de 3,4 % sur un an 13 نوفمبر 2026 · رسمي
2. Reuters via Investing.com: French inflation rises to 3.7% in October, highest since December 2023 13 نوفمبر 2026 · إعلام
3. INSEE: En octobre 2026, les prix à la consommation augmenteraient de 3,4 % sur un an (résultats provisoires) 30 أكتوبر 2026 · رسمي