The richest better protected from inflation by the rise in living standards in 2022, according to INSEE

2023-11-24 16:10:00

Inflation was largely offset by the rise in living standards in 2022, reveals INSEE in a study published this week, with disparities since it was more than compensated for the wealthiest Parisians. With unchanged consumption behavior, inflation represented on average a loss of 1,320 euros per person in 2022, notes the National Institute of Statistics in its study “France, social portrait”, ranging on average from 780 euros for the most modest 10% to 2,250 euros for the wealthiest 10%.

Inflation was “90% offset by the rise in living standards”

INSEE emphasizes that “nearly 60% of the increase in expenses comes from food, heating, electricity and fuels”, and that inflation has “systematically” weighed more heavily on the poorest people. Thus, for the 10% most modest, the increase in heating and electricity expenses represents -1.9% compared to their standard of living, -1.0% for fuel and -1.6% for food, once morest respectively -0.8 %, -0.4% and -0.6% for the wealthiest 10%.

Inflation was, however, “compensated by 90% by the rise in the standard of living” last year, thanks to various measures, some of which were specifically anti-inflation, the abolition of the audiovisual license fee, salary increases or income from assets (rent, interest, various capital gains, etc.). The most modest have benefited the most from social and tax measures, which have enabled the 30% of the least well-off people to compensate on average more than 40% of the loss linked to inflation.

Increases in wages and income from assets have cushioned nearly 85% of the shock for the wealthiest 10%. The gap, underlines INSEE, is also marked depending on the place of residence: a little less than 85% of the additional costs linked to inflation were covered on average by the increase in the standard of living for the inhabitants of the municipalities “outside urban units” (communes with at least 2,000 inhabitants), 90% for those in municipalities with more than 200,000 inhabitants and 100% for those in the Paris metropolitan area.

And these differences become more pronounced when the effects combine. Thus, in municipalities outside urban units, only 75% of new expenses were compensated for the most modest 20%, while in the Paris conurbation, the wealthiest 10% saw the increase more than compensated on average. , around 120%.

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