What are France inflation expectations of firms?

France inflation expectations of firms represent the future inflation rates anticipated by business leaders. Collected quarterly by the Banque de France, these expectations cover horizons of one year and three to five years ahead.

How far back does the France inflation expectations survey go?

The Banque de France survey on corporate inflation and wage expectations began in 2021. The data is updated on a quarterly basis.

What wage measures are included in this French survey?

The survey measures the expected base wage growth in France over the next year. It presents these expectations as both weighted medians and weighted means.

How is the corporate inflation expectation data calculated?

The Banque de France calculates the results using weighted medians and weighted means of the responses. This ensures the expectations reflect a representative sample of French companies.

France inflation expectations of firms

Name: France inflation expectations of firms
Creator: Banque de France – Webstat (webstat.banque-france.fr)
License: https://creativecommons.org/licenses/by/4.0/

France inflation expectations and wage growth expectations of companies from the Banque de France.

Source: Banque de France – Webstat (webstat.banque-france.fr)Last updated: Sep 14, 2026, 20:05Curated by Bui Thanh PhucAbout this data ↓

Indicator	Q2-2026	Q1-2026	Q4-2025	Q3-2025	Q2-2025	Q1-2025	Q4-2024	Q3-2024	Q2-2024	Q1-2024	Q4-2023	Q3-2023	Q2-2023
Weighted median4
Perceived current inflation	2.3	1.5	1.6	2	2	2	2	2.5	3	4	5	5	6
Expected inflation in one year	2.5	2	1.8	2	2	2	2	2.1	2.5	3	3.5	4	4
Expected inflation in three to five years	2	2	2	2	2	2	2	2	2	2.5	2.5	2.5	3
Expected base wage growth in one year	2	1.5	1.7	2	2	2	2	2.5	3	3	3.5	3	4
Weighted mean4
Perceived current inflation	2.45	1.66	1.72	2.03	2.03	2.3	2.44	2.79	3.2	4.2	5	5.96	6.14
Expected inflation in one year	2.77	2.09	1.86	2.14	1.93	2.2	2.36	2.58	2.6	3.2	3.6	4.24	4.54
Expected inflation in three to five years	2.51	2.37	2.04	2.49	2.26	2.5	2.32	2.64	2.5	2.8	2.8	3.24	3.19
Expected base wage growth in one year	1.92	1.68	1.72	1.78	1.77	2	2.12	2.53	2.66	3	3.4	3.37	3.64

Latest reading

Expected inflation in one year stood at 2.5% in Q2 2026. That is +0.5 pp from Q1 2026 and +0.5 pp from a year earlier. The series on this page is quarterly and runs from Q4 2021 to Q2 2026. Source: Banque de France – Webstat (webstat.banque-france.fr).

Latest: 2.5%; Q2 2026
vs previous period: +0.5 pp; Q1 2026
vs a year earlier: +0.5 pp

About this data

France inflation expectations and wage growth expectations of companies from the Banque de France. This quarterly survey tracks what business leaders perceive current inflation to be and what they expect in the future. It provides weighted medians and means for expected inflation in one year, in three to five years, and expected base wage growth in one year. The series are expressed in percent per year and are available since 2021.

Frequently asked questions

What are France inflation expectations of firms?: France inflation expectations of firms represent the future inflation rates anticipated by business leaders. Collected quarterly by the Banque de France, these expectations cover horizons of one year and three to five years ahead.
How far back does the France inflation expectations survey go?: The Banque de France survey on corporate inflation and wage expectations began in 2021. The data is updated on a quarterly basis.
What wage measures are included in this French survey?: The survey measures the expected base wage growth in France over the next year. It presents these expectations as both weighted medians and weighted means.
How is the corporate inflation expectation data calculated?: The Banque de France calculates the results using weighted medians and weighted means of the responses. This ensures the expectations reflect a representative sample of French companies.