According to a recent study carried out by the CSA Research barometer for Cofidis and reported by Le Figaro this Wednesday 20 September, more than half of the French expect their purchasing power to decline in the next twelve months. This concern about purchasing power is constant and growing, with the French estimating that they lack on average 588 euros a month to live comfortably without having to monitor every penny spent.
This estimate is a record for twelve years, while in previous years the respondents estimated that 510 euros would be missing in 2022 and 467 euros in 2021. The French would spend this additional sum mainly on food, leisure and energy.
Furthermore, 62% of French people plan to limit their essential expenses, such as food and energy. This proportion is increasing compared to the previous year. Purchasing power therefore remains a major concern for the French, especially among young people and poorer families.
The study also highlights that only 17% of French people say they are satisfied with their current budget, a reality directly linked to inflation. In fact, 76% of French people believe that inflation is the main cause of their financial difficulties, with price increases particularly felt in the food, energy and transport sectors.
Reduction of non-essential expenses
As a result, many families are forced to reduce expenses, especially non-essential ones such as leisure and clothing. Furthermore, they are increasingly attentive to product prices when they shop, looking for the lowest prices. Furthermore, this widespread inflation creates tensions, as many French consider the price increases to be unjustified. They express their dissatisfaction, especially regarding rents and telecommunications.
To fight inflation, families rely above all on the State, considered the most suitable actor to regulate prices, followed by large companies. More than half of those interviewed believe that the state and large businesses must play a decisive role in the fight against inflation and its consequences.
Obviously this situation of discontent will have serious political and social repercussions: the fact that the government parties are now in a minority in the country, and the fact that social revolts are the order of the day is precisely the result of the government's inability to grow the purchasing capacity of citizens adequately.
How long can French citizens tolerate it?
The article The French "only" need 588 euros a month to live decently comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/ai-francesi-mancano-solo-588-euro-al-mese-per-vivere-decentemente/ on Thu, 21 Sep 2023 14:00:42 +0000.