This is one of the major concerns of the French: to see their purchasing power impacted by the surge in prices, particularly those of energy, in recent months, due to the vigor of the economic recovery, then of the war in Ukraine.
According to forecasts by the Banque de France, inflation should in fact be between 3.7% and 4.4% this year.
Read alsoOil, gas: France faced with soaring prices
While some fear a massive and lasting return to inflation, the Minister of the Economy speaks of a temporary phenomenon.
“
I do not believe in an inflationary shock of several years in the European Union
”, indicated Bruno Le Maire, on the set of the Grand Jury RTL-
Le Figaro
-LCI, Sunday.
At the end of this crisis, "
I think that we will return to a more reasonable price level
", estimated the tenant of Bercy.
And to indicate that this could be "
during the year 2023
", when the value chains will be reorganized and that substitutes for the supply of oil and gas from Russia will have been found.
“
So we have to absorb the shock now and what we are doing now.
This is not a structural policy change for the coming years
,” he insisted.
As for the idea of reindexing wages to prices, Bruno Le Maire warned of the risk, precisely, of initiating an "
inflationary spiral
".
“French growth is solid, we are talking about an adjustment”
The government has in any case not skimped on the means to limit the shock, a few weeks before the presidential election.
In total, at this stage, the measures taken to mitigate the impact of the explosion in energy prices amount to around 26 billion euros.
They include price shields to cap gas and electricity prices, the cost of which reached 18 billion euros, as well as inflation compensation for 3.8 billion.
Read alsoEnergy prices: the presidential candidates are once again taking up this highly sensitive subject
There is also the rebate of 15 euro cents per liter of gasoline, to reduce prices at the pump, which should weigh 2.8 billion... In addition to this there is targeted support for the companies affected by soaring energy prices estimated at between 3 and 4 billion euros, announced as part of the economic and social resilience plan.
What degrade a little more the coffers of the State which are already wrung out in part by the crisis of the sars coronavirus.
As for growth, the Minister is well aware that the government will have to revise downwards its initial forecast of a 4% increase, “
but there are too many uncertainties to do so today.
French growth is solid, we are talking about an adjustment
”.
Russian oligarchs: almost a billion assets and well frozen
Finally, regarding the sanctions against Russia in the face of the invasion in Ukraine, the Minister recalled that all options were on the table, including sanctions concerning energy.
“
Will tomorrow we have to stop sourcing oil?
Will it take longer in time to stop gas supplies?
The president has never ruled out these options (...) All the options, including those concerning energy, are on the table
, ”launched Bruno Le Maire.
And to insist on the fact that the sanctions taken to date "
hurt Russia
".
The tenant also took the opportunity to indicate that nearly one billion euros - 856 million exactly - of assets and property of