Informations Rapides · 18 February 2026 · n° 38

In January 2026, consumer prices fell by 0.3% over one month and rose by 0.3% year on year Consumer price index - final results - January 2026

In January 2026, the Consumer Price Index (CPI) fell by 0.3% over one month, after +0.1% in December 2025. This downturn in prices was due to the seasonal fall in prices of manufactured products (‑1.9% after ‑0.3%), due to sales in clothing and footwear (‑10.2% after ‑0.6%). Conversely, food prices rose over one month (+0.5% after +0.2%), as did those of energy (+0.8% after ‑1.6%) and tobacco (+2.4% after a stability). Services prices fell slightly back compared to December (‑0.1% after +0.4%)

Seasonally adjusted, consumer prices fell back by 0.1% in January 2026 after +0.1% in December.

Year on year, consumer prices went up by 0.3% in January 2026 after +0.8% in December. The fall in inflation was mainly due to a slowdown in prices of services (+1.7% after +2.1%), and to a more pronounced decline in those of manufactured products (‑1.2% after ‑0.4%). The prices of energy decreased at a faster pace than in December (‑7.6% after ‑6.8%), and those of tobacco slowed down due to base effect (+2.7% after 4.1%). Conversely, food prices accelerated slightly (+1.9% after +1.7%).

Year on year, core inflation stood at +0.7% in January 2026, after +1.1% in December.

The Harmonised Index of Consumer Prices (HICP) decreased by 0.4% over one month, after +0.1% in December. Year on year, it rose by 0.4% after +0.7% in December.

Year on year, the prices of services rose by 1.7% in January 2026 after +2.1% in December.

The prices of health services fell slightly back over a year (‑0.3% after +2.0%): prices remained virtually stable over the month, whereas they had risen by 2.4% in January 2025, driven in particular by the increase in medical consultation fees.

The prices of “other services” rose over a year at a slightly slower pace than in December (+2.3% after +2.5%). The prices of social protection (child care services, retirement homes for elderly persons and residences for disabled persons, services to maintain people in their private homes) slowed down (+2.3% after +3.9%), as did those of services for the maintenance, repair and security of the dwellings (+2.1% after +2.4%) and those of recreational services (+1.1% after +2.2%). Conversely, the prices of catering accelerated over a year (+2.5% after +2.1%), as did those of accommodation services (+2.0% after +1.6%) and those of insurance services (+4.9% after +4.3%).

Over a year, the decrease in prices of communication services prices intensified (‑1.8% after ‑0.4%) due to the downturn in those of mobile communication services (‑3.3% after +0.6%).

The prices of rents, water and households refuse collection slowed down again (+2.4% after +2.5%).

Conversely, those of transport fell over a year, at a lower rate than in December (‑0.6% after ‑1.0%).The rebound in prices of transport by train (+4.0% after ‑1.0%), was not totally offset by the slowdown in prices of transport by road (+1.9% after +3.1%) and the more sustained decline in those of airfares (‑6.3% after ‑4.0%).

Year on year, the prices of manufactured products fell by 1.2% in January 2026 after ‑0.4% in December; this collection period included 18 days of sales, compared with 13 in January 2025.

The prices of clothing and footwear plummeted over a year (‑2.8% after +0.3%) as did those of clothing (‑3.7% after +0.1%) and footwear (‑1.7% after +1.4%).

The prices of “other manufactured products” fell at a faster pace (‑0.9% after ‑0.2%) driven by the downturn in those of vehicles (‑1.0% after +0.1%) and those of furniture and furnishings (‑0.7% after +0.6%). In addition, the prices of articles and products for personal care declined at a faster pace than in the previous month (‑1.1% after ‑0.6%), and those of parts for personal transport slowed down (+0.8% after +1.2%). Conversely, the prices of newspapers and periodicals accelerated (+2.1% after +1.8%) as did those of jewellery and watches (+9.4% after +9.0%).

Those of health products fell at a slightly lower pace (‑1.6% after ‑1.8%) than in December.

Year on year, the decline in energy prices intensified again: -7.6% in January 2026, after ‑6.8% in December.

The prices of petroleum products decreased at a faster pace than in December (‑3.9% after ‑2.9%) as did those of diesel (‑3.7% after ‑2.9%) and those of petrol (‑4.8% after ‑3.3%). The month-on-month increase in petroleum products prices (+1.7%) remained lower than the January 2025 increase (+2.8%).

The decrease in gas prices also intensified (‑1.7% after ‑0.4%), as did those of electricity (‑14.6% after ‑14.2%).

Year on year, the prices of food accelerated for the third month in a row: +1.9% in January 2026 after +1.7% in December.

This was mainly due to the acceleration in prices of fresh products (+1.1% after -0.4%), in particular those of fruits bearing vegetables (+16.4% after +4.0%), fresh citrus fruits (+6.6% after +2.1%), and dates, figs and tropical fruits (+1.4% after +1.1%). Prices for fresh leafy or stem vegetables fell at a much slower pace (‑3.1% after ‑8.1%), unlike those for fresh stone and pome fruits whom decrease intensified (‑3.7% after ‑2.1%).

The prices of food excluding fresh products rose at the same rate as in December (+2.0%). The prices of meat accelerated (+3.2% after +2.7%), as did those of milk, other dairy products and eggs (+1.0% after +0.8%), and those of alcoholic beverages (+0.5% after +0.3%). Conversely, the prices of sugar, jam, honey, chocolate and confectionery slowed down (+4.2% after +5.7%), as did those of bread and cereals (+0.8% after +0.9%) and those of non-alcoholic beverages (+9.2% after +9.3%). In the meantime, the prices of oils and fats fell at the same pace than in December (‑1.9%).

Year on year, the prices of industrial food, cleaning and hygiene/beauty products sold in hyper and supermarkets rose by 1.1% in January, as they did in December. Those of industrial food sold in hyper and supermarkets were on the rise by 1.5% as in December. And the prices of cleaning and hygiene/beauty products sold in hyper and supermarkets fell at a faster pace than in the previous month (‑1.3% after ‑1.1%).

Compared to the provisional estimates published on 3 February 2026, CPI and HICP year-on-year and month-on-month changes have been confirmed.