A symbolic threshold has been crossed. France’s public debt exceeded the 3 trillion euro mark for the first time in the first quarter, rising to 112.5% of gross domestic product (GDP), from 111.8% at the end of December 2022, Insee said on Friday.
The country’s public debt, which has increased massively since the health crisis, further increased by 63.4 billion euros to reach 3,013.4 billion in absolute value at the end of March, detailed the National Institute of the statistics.
Household consumption increased
Household consumption of goods increased by 0.5% in France in May compared to April, but it remains 3.6% below the level reached a year ago, INSEE reported on Friday. .
The increase over one month “is mainly explained by higher energy consumption” which increased by 2.2%, driven by fuel expenditure and an increase in gas consumption, said the National Institute of Statistics. .
Inflation is slowing down
Price increases slowed for the second month in a row in France, posting 4.5% year on year in June after 5.9% in April and 5.1% in May, INSEE said on Friday. in a first estimate.
For the first time since April 2022, the indicator therefore falls below 5%, thanks to a slowdown in the rise in food prices and a 3% drop over one year in energy prices, details the National Institute of Statistics and Economic Studies in its press release.