The morale of households in France remains very degraded in February according to INSEE. The Institute of Surveys and Statistical Studies notes a loss of one point to 82 on its index which aims to measure it, well below its usual average (100 points). In question, the concern of consumers about their financial situation, according to the results of the monthly survey published today by INSEE.
The proportion of households that considers it a good idea to save has risen sharply in this survey carried out among 2,000 households from January 27 to February 15, despite inflation but while the savings account has experienced a record success in January, thanks to a rate of pay raised to 3% at the beginning of February.
Inflation in question
Households have a very negative opinion on the past and future evolution of the standard of living in France, and few consider that it is appropriate to make major purchases, which is a bad signal for consumption and French growth, of which it is the main component.
Finally, the share of households who consider that prices have increased over the past 12 months has reached its highest level since 1977, while the proportion of those who believe that prices will continue to accelerate over the next 12 months is increasing slightly and is “well above its long-term average”.
Food inflation would have reached 14.5% in February according to a barometer by LSA magazine published on Thursday. It has increased the minimum amount of the food budget for a family of four from 27 euros in 2022, to 477 euros monthly against 450 in 2021, according to the association Families Rurales, which calls for a food check of 65 euros per month for the most modest.