According to the report from Insee, in July 2021, the Consumer Price Index (CPI) rose by 0.1% over one month, as in June. The prices of services accelerated at +0.7% after +0.1%, as well of those of energy (+2.2% after +1.1%). The food prices rebounded (+0.1% after −0.7%). The prices of manufactured goods dropped (−1.8% after +0.5%) as well as of tobacco prices to a lesser extent (−0.2% after being stable in June). Seasonally adjusted, consumer prices rose by 0.4% in July, after +0.2% in June.

Year on year, consumer prices slowed down to 1.2%, after +1.5% in June. This decline in inflation was driven by the fall back of the prices of manufactured goods (−1.1% after +0.7%), linked to the postponed summer sales, the decrease of the prices of services (+0.6% after +0.8%) and of those of tobacco (+5.1% after +5.3%). Contrariwise, the prices of energy accelerated (+12.3% after +10.9%) and those of food rebounded (+0.9% after −0.2%).

Year on year, core inflation fell in July, down to +0.4%, after +1.1% in June. The Harmonised Index of Consumer Prices (HICP) rose by 0.1% over one month after +0.2% in the previous month; year-on-year, it increased by 1.5%, after +1.9% in June.