In France, the time is again for pessimism. Household morale plunged in March, according to the latest figures published on Tuesday March 29 by Insee, the National Institute of Statistics. Household fears relate to inflation, which has reached a record level.
The morale of French households fell again in March, according to theInsee. The index measuring this confidence fell to 91, ten points below the average. This pessimism was largely fueled by fears linked to sharply rising inflation in February. INSEE expects a rate above 4%.
This inflationary surge affects all sectors, and in particular the energy sector. Prices at the pump are rising, as are those of electricity and gas. Cereal prices are also experiencing historic increases.
The war in Ukraine will accentuate this inflationary pressure. The sanctions imposed on Russia are indeed disrupting supply chains. The French are also worried about their future financial situation and their ability to save as the health crisis is far from over.
The only good news is that job fears seem to be fading.
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