The French, inflation and purchasing power

2023-05-12 11:06:08

55% of French people say they make ends meet without restricting themselves, 45% by restricting themselves
82% say they are unable to save on the 31st of the month

55% of French people declare that they make ends meet without restricting themselves, including 18% who loop them easily and manage to save money and 37% who complete them without restricting themselves too much, but without putting money aside. Conversely, 45% of French people have to restrict themselves, including 32% who are forced to find additional incomeand 13% who are forced to dip into their reserves or be loaned money.

Thus, 82% of French people say they are unable to save at the end of the month.

From a socio-professional point of viewworking people are more likely (48%) than retirees (35%) to declare having limit oneself to make ends meet. In detail, a majority of executives (71% without restricting oneself) and to a lesser extent the intermediate professions (60%) make ends meet without restricting oneself, a third of executives (30%) even manage to save. Conversely, the majority of employees/workers must limit oneself (57%), including almost one in five (17%) who say they have to dip into their reserves or borrow to do so.

From a geographical point of viewthe proportion of French people who must limit oneself is higher in rural municipalities and small towns (54%) than in medium and large towns (41%).

From a political point of viewthe majority of Emmanuel Macron voters (70%) make ends meet without limit oneselfwhile voters for Marine Le Pen (56%) and to a lesser extent for Jean-Luc Mélenchon (49%) are more likely to limit oneself.

This question has been asked every week in the field surveys carried out by ELABE since June 2018. Over the long term, we have observed a significant drop in the level of purchasing power at the time of the “yellow vests” crisis at the end of 2018/ early 2019 (up to 50% of French people who said they had to limit oneself on December 10, 2018), then a slow but constant progression of the situation until August 2021 (32% had to limit oneself). Since the sharp rise in inflation that occurred from the 3rd quarter of 2021, we have measured a clear deterioration in the purchasing power of the French to reach 45% who today declare that they have to limit oneself to make ends meet.

79% say they have to “tighten their belts”, including 25% who say they have to, a proportion that has however been falling since November 2022

79% (-6 points since November 9, 2022) of French people say they have to ” to tighten one’s belt “dont 25% (-5) a lot et 54% (-1) A little.

The decline in the proportion of French people who say they owe ” to tighten one’s belt ” is observed mainly within the most favored categories – executives (70%, -9) and the French able to save at the end of the month (33%, -12) – and among Emmanuel Macron’s voters (62%, -12).

However, despite these declines, a very large majority of French people in all population categories declare ” to tighten one’s belt “. Employees/workers (86%, of which 34% a lot), the voters of Marine Le Pen (86%, including 34%) and Jean-Luc Mélenchon (92%, including 28%) are particularly numerous to declare that they experience this situation.

This strong pressure on purchasing power causes a series of renunciations: leisure, holidays, daily essentials (food, heating). Food renunciations have been on the rise since November

For financial reasons, nearly 1 out of 2 French people have had to give up their go shopping (53%, +2 since November 9, 2022), to make an exit (49%, -2), and at go on vacation or weekend (45%, -3).

More than a third gave up buy certain food products (43%, +4) and at heat their home properly (34%, -3), and less than 1 in 5 to donate to charities (20%, -5), to look following/take care of their health (17%, =), help relatives financially (16%, -4) and at to pay for their children’s education/schooling (2%, -3). Overall, 81% (+1) of French people had to give up at least 1 of these expenses.

All population categories are affected by these renunciations. The most impacted are the popular categories (83% at least 1, of which 60% shopping49% feed36% warm up23% to heal), women (84% at least 1, of which 63% shopping50% vacances/week-end47% feed40% warm up) and politically the voters of Marine Le Pen (86% at least 1, including 64% shopping55% feed52% vacances/week-end46% warm up23% to heal).

Renunciations food have been on the rise since November 2022, particularly among employees/workers (49%, +6), residents of small towns (49%, +11) and rural communities (48%, +9), French people who have to restrict to make ends meet (62%, +6) and Marine Le Pen voters (55%, +6).

Over a longer period, we observe that these waivers are significantly more numerous than in October 2021: 32% had given up an exit ( once morest 49% today, i.e. +17), 26% to buy certain food products (compared to 43%, i.e. +17), 25% at warm up properly ( once morest 34%, or +9).

Food shopping: more than 8 out of 10 French people have changed their behavior in recent months (purchasing cheaper products, in smaller quantities or even giving up)

In terms of food shopping, in recent months, 55% of French people have given up buying certain products44% buy cheaper products than before et 30% buy in smaller quantities. Only 16% of French people have not particularly changed their purchasing behavior on food shopping.

All categories of the population are affected by these changes in behavior, in particular women, employees/workers and especially the French who have to restrict themselves to make ends meet (96% have changed their behaviordont 67% renunciations57% purchases of cheaper products37% in smaller quantities).

Meat and fish are the 2 products that the French have given up the most

The products that the French say they no longer buy or in smaller quantities than before are meat (43%) in front Fish (34%). Behind these 2 products, nearly 1 in 4 French people cite cakes/cookies (27%), the cold cuts (26%), organic products (26%), prepared meals (25%), alcoholic beverages (25%), cheese (23%), drinks/juices (20%) et the fruits (20%). Less than 1 in 5 French people have given up buying chocolate (18%), pastry products (17%), vegetables (16%), some yogurts (10%), breakfast products (10%), oil/vinegar (9%), bread (7%) et pasta/rice (4%).

The agri-food industry and mass distribution now perceived by the French as responsible for food inflation

For the French, the 2 main factors that explain the significant rise in food prices are the fact that the agri-food industry is increasing its prices too much (66%, +13 since 1is March 2023) and that supermarkets do not reduce their margins enough (63%, +11).

Clearly behind these two reasons, fewer and fewer French people attribute the responsibility for the current food inflation to the international context of the war in Ukraine and tensions with Russia (36%, -12) et climate change, which reduces the volume of harvests (22%, -11). Finally, 7% (-1) believe that farmers, who are asking for excessive price increases, are responsible.

The responsibility attributed to the food industry and to large retailers has been present and has been increasing since the beginning of March within all categories of the population and electorates.

46% think that the measures taken by the government are going in the right direction but are insufficient, 37% that they do not improve the situation at all

Regarding the purchasing power measures taken by the government in recent months*, 46% of French people think that these measures go in the right direction but are insufficient37% consider that they will not improve the purchasing power situation at alland conversely, 16% believe that they really help to improve the situation in terms of purchasing power.

From a political point of view, Marine Le Pen voters are the most critical (47% do not improve at all43% in the right direction but insufficient) in front of those of Jean-Luc Mélenchon who are divided between good direction but insufficient (50%) et inefficiency (42%). The majority of Emmanuel Macron’s voters consider that the government’s action will in a good way but is insufficient (49%), a third (36%) however believe that they will really improve the situation.

The French who have to restrict themselves to make ends meet (46% no way43% in the right direction but insufficient) have a more negative judgment than those who loop them without restricting themselves (48% in the right direction but insufficient30% no way).

The question was preceded by an update informing respondents of the main measures taken by the government

The French think that on the subject of inflation and purchasing power, none of the main opposition parties would do better than Emmanuel Macron

  • If they were in power: 24% of French people think that Marine Le Pen and the National Rally would better than Emmanuel Macron, 45% neither better nor worse et 30%
  • less good 16% think that Jean-Luc Mélenchon and the NUPES wouldbetter 44% neither better nor worse et 39%
  • less good 6% think that the leaders of the “Les Républicains” party wouldbetter 69% neither better nor worse et 25%

less good 65% of Marine Le Pen voters and 61% of Jean-Luc Mélenchon think that their respective camp would better
than Emmanuel Macron. Emmanuel Macron’s voters believe they would less good

(72% JLM/NUPES, 66% MLP/RN). LR supporters doubt the leaders of their party: 63% think they would neither better nor worse (et 27%better

). Download the report:

The French, inflation and purchasing power Picture credits: Purchases Expenses – Photo Pixabay

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