The suspicion of a profiteering or even inflation-making state rests on two indisputable mechanisms. The first relates to tax revenues and social contributions, the bases of which are indexed to prices.

VAT collection is growing in line with consumer prices, and income tax, like the CSG, is seeing their mass increase with wage increases. As for public debt, its alleviation, supposedly linked to inflation, is another phenomenon. Debt has certainly continued to rise...This article is for subscribers only. You still have 78% to discover.