Inflation France 2023
Average inflation: 4.9%
Current Inflation
Inflation is high at 4.9%, well above the ECB target.
Peak and Trough
The highest inflation was in February at 6.3%. The lowest inflation was in November at 3.5%.
- Highest month
- February: 6.3%
- Lowest month
- November: 3.5%
- Difference
- 2.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 12.5%. The lowest price increase was in Communication with an average of -3.7%.
- Highest increase
- Food and non-alcoholic beverages: 12.5%
- Lowest increase
- Communication: -3.7%
Historical Context
Current inflation is 2.2% higher than the 5-year average of 2.7%. This approaches the highest level since records began (5.2% in 2022).
- 5-year average
- 2.7%
- 10-year average
- 1.7%
- All-time high (2022)
- 5.2%
- All-time low (2015)
- 0%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -0.3 percentage point.
- Change vs. previous year
- -0.3 percentage points
- Largest monthly swing
- January: +3.1 percentage points
ECB Target
Inflation is 2.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 6.0% | +3.1 |
| February | 6.3% | +2.7 |
| March | 5.7% | +1.2 |
| April | 5.9% | +1.1 |
| May | 5.1% | -0.1 |
| June | 4.5% | -1.3 |
| July | 4.3% | -1.8 |
| August | 4.9% | -1.0 |
| September | 4.9% | -0.7 |
| October | 4.0% | -2.2 |
| November | 3.5% | -2.7 |
| December | 3.7% | -2.2 |
| Average | 4.9% |
Data source
Data from OECD. Last updated: 13/01/2026.