Over a year, the Consumer Price Index (CPI) should accelerate sharply in July 2018, to +2.3% after +2.0%, according to the provisional estimate made at the end of the month. This strong rise in the year-on-year inflation should result essentially from a year-on-year acceleration in energy prices, and to a lesser extent, in service prices. Food and tobacco prices should increase more too. Finally, a lesser drop in manufactured product prices should contribute too to the rise in inflation.

Over one month, consumer prices should edge down to 0.1% in July after a stability in June. This slight drop come from a seasonal fall in slowdown in manufactured product prices due to summer sales, parly offset by a rebound in services prices, essentially in airfares with the beginning of school holidays