Household morale fell slightly in January, according to INSEE

by time news
The average of this indicator between 1987 and 2022 is 100. SCOTT OLSON / AFP

The indicator stands at 80, down from December.

Household morale in France fell slightly in January, still remaining very low compared to the average, INSEE said on Friday. The indicator that summarizes the opinion of households as to their financial situation, the opportunity to save, the standard of living in France or even the fear of unemployment was 80 last month, down from December, the average between 1987 and 2022 being 100. Twice this year (in July then in September), the indicator fell to 79 points, a level not reached since June 2013.

In December, household confidence stood at 81, a figure revised slightly downwards by INSEE, which had initially announced a level of 82 for the last month of 2022. In January, the opinion of French households on their future financial situation has dropped by two points and the number of those who believe that it is a good time to make major purchases has dropped by one point. The deterioration is also visible in the opinion of households regarding the recent trend in their standard of living, with a level that is approaching the historic low reached last July. The prospects for their future standard of living only lose one point. On the other hand, the proportion of households who believe that prices will accelerate over the year is also falling, even if fears about inflation remain above average.

«Almost all households believe that prices have increased over the past twelve months“recalls INSEE. Household confidence in their ability to save, both current and future, is also decreasing since these two indicators each lose two points, specifies INSEE, adding that they nevertheless remain above their long-term average. Lastly, household fears regarding the trend in unemployment remain almost stable (+1 points) and the indicator well below its average.

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