France July Inflation Holds Steady at 2.4%, Matching Forecasts

France's consumer price index (CPI) based on the EU harmonised standard rose 2.4% year-on-year in July, matching market forecasts and holding steady from the previous month.

The harmonised index of consumer prices (HICP) is a benchmark used by the European Central Bank to compare inflation across member states.

While France's inflation rate is closely watched by the ECB as it sets interest rate policy for the euro area, the stable headline figure suggests that the recent spike in services inflation has plateaued, offering some relief to policymakers monitoring price stability.