Prices of gas, electricity, gasoline and credit rates: the European Commission has released bad news.
The past year has been particularly trying for the budgetary management of French families. On the one hand, the inflation rate remains well above the levels observed before 2021, and on the other hand, families wishing to take out a mortgage have seen their monthly payments explode due to the meteoric increase in mortgage rates. ‘interest. The sudden and significant increase in the cost of living has posed great challenges to households. And the worst is that, according to new forecasts from the European Commission, this trend is far from reversing.
The outlook remains tense in 2024, particularly with regard to gas and electricity bills, which will continue to weigh heavily on households. Although Brussels has revised electricity and natural gas prices downward for 2023 and 2024 compared to forecasts made this spring, European Commission analysts predict that the price of electricity will increase by 28.7%. and that of natural gas by 27.1% on international markets between 2023 and 2024.
For households using a car for their daily trips, the gasoline or diesel bill is not expected to decrease this year or next. Brussels has revised the price of a barrel of oil upwards by 7.2% for this year compared to forecasts this spring. For 2024, the European Commission’s forecasts have also been revised upwards, this time by 12.6%.
| 2023 | 2024 | Evolution 2023/2024 | |
| Natural gas (€/Mwh) | €42.8 | €54.4 | 27.1% |
|---|---|---|---|
| Electricity (€/Mwh) | €108.9 | €140.2 | 28.7% |
| Oil ($ per barrel) | $81.8 | $81.2 | -0.7% |
| Euribor interest rate 3 months | 3.40% | 3.60% | +0.20 pts |
There is also a serious risk of worsening, particularly for those wishing to take out credit. For example, the 3-month Euribor rate, which is often used as a benchmark for loans, showed an average rate of 3.21% in 2023 and 2.85% the previous year. According to new forecasts from the European Commission published on Monday, the average 3-month Euribor rate this year will be 3.4% (0.10 points more than the previous forecast) and 3.6% in 2024 Which means that interest rates will rise further.
Finally, without giving specific details on France, Brussels forecasts that inflation will continue to slow in the coming months, closing this year at 5.6% (0.20 points below this spring’s forecasts) and at 2 .9% in 2024 (0.10 points more than previous estimates).