Life Style

Purchasing power: the French lack almost 500 euros each month to “live well”

They lack 490 euros per month to live well, properly, to be comfortable. That’s what French households are saying, according to the latest Cofidis-CSA survey last month. Almost 500 euros: this sum has never been so high for eight years that this annual barometer is carried out. To give you another idea, it is 23 euros more per month than is missing on average compared to last year. Sign that the French feel a strong loss of their purchasing power.

These 490 euros, this remains an average because it is obviously much harder for the most modest, single-parent families, young workers, workers, job seekers. A quarter of them are already drawing on their savings or going into debt to end the month properly. Unsurprisingly, those who are doing the best are the owners and, of course, the executives, the oldest too, even if some retirees are in great financial difficulty.

To get by, the French make trade-offs in spending. Household consumption has already fallen in recent weeks. The French are adapting, changing their habits, supermarket managers see it at the checkout: no more superfluous, pleasure purchases are eliminated and more than one in two French people plan to go out less, go to restaurants less, limit hobbies, buy less clothes. A third postpone or even give up plans for vacations, apartment or house renovations, purchases of important goods such as a car.

In the coming year, a quarter is preparing to heat up less. 23% think of reducing their food expenditure, low-income households are already eliminating meat or fresh fruit and vegetables, because it is too expensive. They turn to private label products. And then, as refueling is expensive, more than 20% limit their movements. Finally, the survey shows that the French have integrated the fact that this price increase will last.

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