Inflation soars in France

In France, although the data inflationary Officially still low compared to the US and many other countries, but the price increase consumer goods can still be seen clearly in everyday life.

France predicts that if the war in Ukraine is still unresolved and continues to persist, inflation will certainly increase further and its consequences on the French economy will be more severe than the COVID-19 pandemic.

Just doing a simple survey in a busy business district in the capital Paris can see that food prices have increased compared to the first months of 2022. Inflation is at 3.6% due to The French Institute of Economic Strategy does not seem to be quite close to what people see at the people’s market. Food prices in big cities like Paris show a different figure.

People at a pharmacy in Paris, France on April 2, 2020. Photo: THX/VNA

3.6% inflation in France and 5.8% in the euro area have changed the consumption habits of many French people, more thoughtful. France predicts that despite many bank measures such as raising interest rates, inflation could continue to rise if the war between Russia and Ukraine persists.

Not only food and food increased, other French consumer goods also increased even higher due to transport costs. As of the end of March, the inflation index in France was reported to increase by 4.5%. This is a number that is beyond the expectations of France.

Starting from May 1, France increased the minimum wage to 2.65% in the hope of improving the purchasing power of the people.

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