• Inflation seen falling to 2.5% in 2024 (previously 2.6%)
  • Inflation seen falling below 2% in Q1 2025 to average 1.8% in 2025
  • French growth seen at 0.8% in 2023 (previously 0.9%)
  • French growth seen at 0.9% in 2024 (unchanged), and 1.3% in 2025 (unchanged)

The message on inflation is consistent with what the ECB is anticipating on their own inflation outlook.