Informations Rapides · 15 April 2025 · n° 92

In March 2025, consumer prices rose by 0.2% over one month and by 0.8% year on year Consumer price index - final results - March 2025

In March 2025, the Consumer Price Index (CPI) rose by 0.2% over one month, after being stable in February. This slight rise in prices was mainly due to the seasonal increase in prices of manufactured products (+1.1% after +0.3%), in particular those of clothing and footwear (+5.7% after +1.4%). The prices of services were stable (after +0.6%) while those of food rebounded slightly in March (+0.3% after ‑0.1%). Conversely, prices of energy fell again over a month (‑1.5% after ‑4.6%) due to the price of petroleum products.

Seasonally adjusted, consumer prices decreased by 0.2% in March 2025 after ‑0.5% in February.

Year on year, consumer prices went up by 0.8% in March 2025, as in February. Sharper falls in prices of energy (‑6.6% in March after ‑5.8%) and manufactured products (‑0.2% after stability) were offset by the acceleration in prices of services (+2.3% after +2.2%), in particular those of insurances, and in food (+0.6% after +0.3%), notably those of fresh products. The prices of tobacco slowed down slightly (+4.1% after +4.5%).

Year on year, core inflation stood at +1.3% in March 2025, as in February.

The Harmonised Index of Consumer Prices (HICP) also increased by 0.2% over a month, after +0.1% in February. Year on year, it rose by 0.9%, as in February.

Year on year, prices of energy fell by 6.6% in March 2025, after ‑5.8% in February.

This more sustained fall in prices was due to that in prices of petroleum products (‑7.2% after ‑4.5%), such as those in diesel (‑7.8% after ‑5.9%), petrol (‑7.2% after ‑2.8%) and liquid fuel (‑6.9% after ‑5.6%).

The prices of electricity decreased at a slightly faster rate than in February (‑12.8% after ‑12.6%). Conversely, the prices of gas accelerated over a year (+18.9% after +11.7%) and those of solid fuel fell at a slower rate than in the previous month (‑4.9% after ‑5.5%).

Year on year, the prices of manufactured products fell by 0.2% in March, after being stable in February.

The prices of clothing and footwear slowed down again (+0.5% after +1.6%), while those of health products fell over one year at the same pace than in February (‑1.4%).

Over a year, prices of “other manufactured products” were almost stable (‑0.1%), after being stable in February. On the one hand, the prices of vehicles slowed down despite the malus on new cars (+1.2% after +2.0%) and those of non-durable household goods fell at a faster rate than in the previous month (‑2.1% after ‑1.5%). On the other hand, the prices of glassware, tableware and household utensils (+1.3% after +0.5%) and newspapers and periodicals (+2.1% after +2.0%) accelerated, and those of major household appliances (‑1.6% after ‑2.3%) and games, toys and hobbies (‑0.9% after ‑1.1%) decreased at a slower pace than in the previous month.

Year on year, prices of services rose by 2.3%, after +2.2% in February.

Over one year, the prices of “other services” accelerated (+3.5% after +3.3%), driven by those of insurance (+11.6% after +8.5%). Contrariwise, the prices of accommodation services (+5.7% after +6.0%), cultural and recreational services (+0.7% after +1.0%) and social protection (child care services, retirement homes for elderly persons and residences for disabled persons, services to maintain people in their private homes; +4.0% after +4.2%) slowed down year on year. While the prices of catering rose at the same rate than in February (+2.2%).

Prices of communication services fell at a slower rate than in February (‑11.4% after ‑13.6%).

Conversely, the prices of transport fell back (‑0.4% after +1.5%) driven by the fall in prices of transport by train (‑1.9% after being stable) and airfares which remain on a downward trend despite the solidarity tax on airline tickets (‑3.8% after ‑0.1%). The prices of transport by road accelerated slightly (+5.7% after +5.6%).

Prices of health services slowed down again year on year (+1.0% after +1.2%).

Prices of rents, water and household refuse collection also decreased slightly (+2.6% after +2.7%).

Year on year, food prices accelerated slightly in March 2025 (+0.6% after +0.3%).

This rise in inflation is due to the acceleration in prices of fresh products (+3.8% after +1.8%), in particular in those of fresh vegetable (+5.5% after +2.7%), fresh fruit (+3.4% after +1.6%) and fresh fish (+3.7% after +3.2%).

Prices of food excluding fresh products accelerated slightly over one year (+0.2% after +0.1%) as those of bread and cereals (+0.2% after +0.1%). Year on year, prices of non-alcoholic beverages accelerated as a result of the increase in the taxation of sweetened drinks (+2.3% after +1.6%). Those of milk, cheese and eggs decreased at a slightly slower pace than in February (‑0.8% after ‑0.9%). Conversely, the prices of oils and fats (+0.8% after +2.6%) and alcoholic beverages (+0.2% after +0.3%) slowed year on year, while the prices of meat (‑0.4%) and sugar, jam, honey, chocolate and confectionery (+3.8%) evolved at the same rate as in the previous month.

Compared to the provisional estimates published on 28 March 2025, both month-on-month and year-on-year changes in CPI and in HICP are confirmed.