“We should not expect an improvement on the inflation front before the start of 2023”, recalls Le Maire

The Minister of Economy, Bruno the Mayordeclared Wednesday on France 5 that it was not necessarynot expect an improvement on the inflation front before the start of 2023“. But “we do not have a scenario on the table today that foresees double-digit inflation in Franceadded the minister as consumer prices rose 6.1% year on year in July, according to INSEE.

A speech that the Minister of the Economy had already given at the end of July. “We are in the inflationary peak and inflation will remain at a high level until the end of 2022“he had explained, adding that a reduction is envisaged”in the course of 2023“.

French inflation lower than among its neighbors

For its part, in its note on the economy at the end of June, INSEE indicated that it expected a continuous rise in prices, up to “just under 7% in Septemberover a year. Inflation should then stabilize, for an annual average of 5.5%, “after 1.6% in 2021“, specified the experts. The Banque de France was expecting, in its latest macroeconomic projections, inflation to average 5.6% this year.

For the time being, French inflation remains much lower than in our neighbours: in July, according to Eurostat estimates, it thus reached 10.4% over one year in Belgium, 8.5% in Germany, 10.8% in Spain and 8.4% in Italy, or 9.3% in Austria.

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To cope with this inflationary peak, emergency measures for purchasing power are planned for this start of the school year, namely in particular the rebate on fuel which will increase from September to October, the tariff shield on the prices of gas and electricity which is extended until 2022 or else the abolition of the 138 euros contribution to public broadcasting, starting this fall.