French spending power falls one per cent in past year
HAVE you found a few fewer euros in your pocket at the end of the month, well you are not alone as consumer watchdog 60 Millions de Consommateurs reckon the amount people have to spend has fallen by one per cent.
In a report the organisation has said that the pouvoir d’achat of the French public has fallen due to price inflation of 1.9% and average salaries only increasing by 0.9% over the past twelve months.
60 Millions de Consommateurs say the rising cost of fruit, vegetables and meat has seen people will €9 less a month to spend, although Free Mobile has helped shake up the phone market and helped some save money.
But overall it seems spending is going to be increasingly reigned in, with a pessimistic outlook from the official statistics office INSEE and economists.
Already those on low incomes are tightening their belts, whilst more people are dipping into their savings to help support discretionary spending although as 60 Millions de Consommateurs says this can't last forever.