France less affected than most countries in the world

Inflation: France less affected than most countries in the world (Source: Getty Images)

Driven by the war in Ukraine, inflation is skyrocketing worldwide. In comparison to its neighbors and other major powers, France is more likely to be spared.

It has become one of the main themes of the presidential campaign over the past few weeks. A source of concern has reached inflation 4.5% in the last 12 months France. Unheard of since 1985, this soaring price is eroding the purchasing power of the French, who watch helplessly as energy, food and industrial prices soar. The economic recovery after months of shutdown due to the Covid, but also and above all the war in Ukraine explain this spectacular price increase all over the world. Compared to its European neighbors and other world powers, France seems less affected.

Spain is close to 10%

Inflation is reached 7% to United Kingdomits highest level since March 1992 and 7.3% in Germany, a historic record for more than 40 years. It even reaches peaks in Spain with inflation approaching 10% in March (9.8%). To help Spaniards cope, Prime Minister Pedro Sanchez announced a 20 cent per liter cut in fuel prices for all motorists. In Italy and in Swedeninflation is also rising, but to a lesser extent: or 6.7% on the other side of the Alps and 6.1% for the Scandinavian country. If European countries as a whole are “reluctant to tax energy companies’ excess profits, Italy is the only country that has taken the plunge,” confirm Les Echos. “In the midst of the energy crisis, the President of the Council, Mario Draghi, has decided to levy a 10% surcharge on the profits of large companies in the energy sector made between October 2021 and March 2022,” the business newspaper specifies.

Limited increase in Asia

To the United States, the inflation number is four points higher than that of France. As in Europe, it has reached unprecedented heights for more than forty years: 8.5%. Inflation, which has been at record levels for 40 years, is weighing heavily on the wallets of America’s most humble households. “These price hikes are particularly painful for low-income families, who spend a larger share on groceries and transportation,” commented Federal Reserve Board Governor Lael Brainard during an interview with The Wall Street Journal. The neighbor Canadian performed better with an observed price increase of 5.7%.

Asia seems to be fighting back better. In Chinais the consumer price index 1.5% March. This slight increase is related to “the global increase in wheat, corn and soybean prices,” noted Dong Lijuan, a statistician with the National Bureau of Statistics (BNS). Very far from the rising prices observed in Europe and the United States Japan, after years of deflation, is rediscovering inflation. “The umaibo, these very popular popcorn bars in Japan, which were priced at 10 yen (7.7 cents) unchanged since 1979, are now 2 yen (1.5 cents) more,” notes Le World. According to the Bank of Japan, inflation could… 2% In April. What many states dream of.

VIDEO – How can the surge in inflation in recent months be explained?

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