French inflation jumps to 3.0% in September, its highest since January 2024, as energy prices rise 21.2%

France's statistics institute INSEE published its flash estimate for September on 30 September 2026. Consumer prices were 3.0% higher than a year earlier, up from 2.4% in August, 2.1% in July and 1.8% in June. On the harmonised index (HICP) the annual rate was 3.4%, up from 2.6%. Over the month, consumer prices fell 0.3% after a 0.7% rise in August.

What drove the rise

INSEE attributes the acceleration to energy, mainly petroleum products and gas, and to food. Year-on-year changes from its table (September is provisional):

• All items (CPI): 3.0% (August: 2.4%)
• Energy: 21.2% (16.7%)
• Food: 1.5% (1.1%), of which fresh food 9.9% (5.9%) and other food 0.4% (0.4%)
• Manufactured products: −0.3% (−0.4%)
• Services: 2.2% (1.9%)
• Tobacco: 3.3% (3.3%)

The monthly fall is seasonal. INSEE says services prices dropped after the summer, mainly in transport and accommodation, but by less than in a typical September, which lifts the annual services rate. Food prices rose for a third consecutive month.

The CPI rate of 3.0% is the highest annual reading since January 2024, when it was 3.1%. Every monthly rate in INSEE's published series between those dates was below 3.0%.

Where France sits in the euro area

On the harmonised measure France's 3.4% was a little above Germany's 3.3% (report) and below the euro area's 3.8%, which was lifted by energy prices up 18.8% (report). The flash estimate is based on limited price observations, and INSEE publishes the complete September results on 15 October at 8:45 a.m.

The European Central Bank raised its deposit rate to 2.50% on 10 September and decides next on 29 October (report). Oil and inflation explains how energy prices feed through into headline figures. Live prices: EUR/USD.