France’s consumer price inflation accelerated to 2.2% year-over-year in April 2026, up from 1.7% in March and surpassing market forecasts of 2.0%, according to a preliminary estimate. This marks the highest rate since July 2024, primarily driven by a sharp rise in energy prices, particularly oil, linked to the Middle East conflict. The EU-harmonized inflation rate also climbed to 2.5%, the first time since August 2024 that France has exceeded the ECB’s 2% target. Energy prices surged 14.2%, following a 7.4% increase in March, while services inflation picked up to 1.9% from 1.7%. In contrast, food inflation eased to 1.3% from 1.8%, and prices for manufactured products continued to decline.