France CPI m/m comes in at 0.6% against -0.2% consensus

France’s Consumer Price Index month over month (CPI m/m) for July 2026 was released today, showing an actual figure of 0.6%. This print significantly exceeded the market consensus expectation of -0.2%, representing a 400.0% surprise against the forecast. The previous month’s reading stood at -0.3%.

Following the release, the Euro saw varied movements against major currencies. Fifteen minutes after the data, EURAUD was up 3.4 pips, EURCAD gained 5.6 pips, EURGBP rose 1.7 pips, EURNZD was up 2.6 pips, and EURUSD increased by 4.1 pips. In contrast, EURCHF was down 0.6 pips and EURJPY declined by 13 pips. Compared to historical movements, the current reaction in pairs like EURAUD, EURCHF, EURGBP, EURNZD, and EURUSD appears relatively small. For instance, EURUSD’s 4.1 pip move is less than its median 1-hour move of 8 pips, and EURAUD’s 3.4 pips is well below its median 14 pips. EURJPY’s 13 pip decline is close to its median 1-hour move of 12 pips, while EURCAD’s 5.6 pip gain is also below its median 9 pips.