The French estimate that they lack 510 euros per month to live with dignity

Galloping inflation at all levels is cutting into the purchasing power of the French. Despite the different safety nets put in place by the Government, households estimate that 510 euros is the average amount that is missing each month to live with dignity.

According to the latest edition of the Barometer of Purchasing Power by Cofidis/CSA Research*, this sum has increased 43 years in one year and reached a level not reached since 2014, the year in which this item was created in the barometer.

“If they had this sum, the French would not allow themselves “pleasure” purchases, but would use it above all for essential expenses such as food (53%) or energy (29%)”, it reads.

In concrete terms, 82% of French people notice an increase in food prices (+12 pts compared to 2021), 80% in energy prices (+8 points) and 64% in electricity prices. transport (+21 points).

Pessimism

And the optimism is not really there as 66% of the French think that their purchasing power will decrease in the next 12 months (+29 points compared to 2021). And 53% believe that their quality of life has deteriorated (+14 points).

As a logical consequence, 59% of the French have reduced their non-essential expenses in the last 12 months to face inflation, 58% seek low prices and advice to spend as little as possible and 35% say they have consumer credit current.

Although 55% of French people plan to undertake a project that requires significant spending (-6 points compared to 2021), a large part of them (41%) are not convinced to carry it out.

In addition, if the number of French people who declare themselves in bank overdraft at least once a year stagnates at 38%, the amount of these overdrafts increases: it is on average 368 euros per person this year, compared to 316 euros in 2021.

*: Sample of 1,007 French, representative of the French population aged 18 and over. Self-administered online sample from July 04 to 11, 2022, constituted according to the quota method on the following criteria: sex, age, profession, region of residence and agglomeration category.