France’s annual inflation rate rose to 3.4% in October 2026, picking up from 3.1% in September and overshooting expectations of 3.2%, according to preliminary estimates. This marked the highest reading since December 2023, as energy inflation accelerated to 24.1% from 21.3%, driven by higher natural gas and petroleum product prices. Meanwhile, services inflation increased to 2.7% from 2.4%, while the decline in manufactured product prices eased to 0.2% from 0.3% in September. In contrast, food inflation eased to 1.2% from 1.4%, particularly as fresh food prices moderated, while tobacco inflation remained unchanged at 3.3%. On a monthly basis, consumer prices rose 0.4% in October, following a 0.3% decline in September, driven by increases in services and energy prices, particularly gas, petroleum products and electricity. Meanwhile, the EU-harmonised annual inflation rate accelerated to 3.8% from 3.4%, while monthly HICP rose 0.4% after falling 0.3% in September.