The French at the start of 2024 are being put to severe tests, between repeated strikes by the SNCF, taxis and the police, agricultural mobilization, rising inflation and the approach of the Olympics.
The particular context caused a relapse in French household morale in February after several months of improvement, losing two points over one month to settle at 89, well below its historical average set at 100, the INSEE.
During the second month of the year, the proportion of households “believing that prices will accelerate” in the next twelve months rebounded sharply (+7 points, after a decline of 5 points in January), details the National Institute statistics and economic studies.
The share of households who consider it appropriate to make major purchases has fallen significantly (-5 points), erasing its increase in January (+5 points) and remaining "well below its long-term average", according to the press release from INSEE.
Households pessimistic for the future
Households are also more pessimistic about their future financial situation (the indicator in question loses three points) and their current saving capacity (-4 points).
In February, the share of households who consider that the standard of living in France will improve over the next twelve months also fell (-4 points) and the indicator
“remains well below its long-term average
".
Even if the indicator measuring French people's fears about unemployment increased by four points in February, it remains below its historical average, INSEE further details.
Household morale, weighed down successively by the Covid-19 pandemic and the return of a level of inflation not seen since the 1980s in France, has not reached its long-term average since October 2021. Since October 2023, where it stood at 85 points, it nevertheless continued to rise in November (88), December (89) and January (91).