France’s annual inflation rate rose to 2.4% in May 2026, picking up from 2.2% in April, confirming preliminary estimates. This marked the highest level since February 2024, driven mainly by higher energy prices (16.6% vs 14.3% in April), largely due to a sharp rebound in gas prices (11.3% vs -3.1%). Services inflation also rose to 2.1% from 1.8%, while food prices slowed slightly to 1.1% from 1.2%. Prices for manufactured goods fell by 0.6%, and tobacco inflation remained steady at 3.2%. On a monthly basis, the CPI increased by 0.1% in May, slowing sharply from 1.0% in April, as energy prices rose at a slower pace (0.6% vs 4.7%), with higher gas prices partly offset by a decline in petroleum products (-1.9% vs 8.2%). Food prices rose 0.3%, driven by fresh products, while manufactured goods edged up 0.1%, and services and tobacco were stable. Meanwhile, the EU-harmonised annual inflation rate rose to 2.8% from 2.5%, while monthly CPI increased by 0.1% following a 1.2% rise in April.