Are f-strings or .format faster?

fstring_benchmark.py

#!/usr/bin/env python3.6
import time

n = 1_000_000

print("Using .format")
start = time.time()
template = "This is a new {thing} with {x} properties"
for thing, x in zip('abcdefghijklmnopqrstuvwxyz' * int(n/26), range(n)):
    _ = template.format(thing=thing, x=x)
end = time.time()
elapsed_format = end - start
print(elapsed_format)

print("Using f-strings")
start = time.time()
for thing, x in zip('abcdefghijklmnopqrstuvwxyz' * int(n/26), range(n)):
    _ = f"This is a new {thing} with {x} properties"
end = time.time()
elapsed_fstring = end - start
print(elapsed_fstring)

ratio = elapsed_format / elapsed_fstring
print(f"f-strings are {ratio:0.2f} times faster!")

Results:

Using .format
0.9278731346130371
Using f-strings
0.37136220932006836
f-strings are 2.50 times faster!