“It has clearly become the number one priority”: 85% of French people feel that their purchasing power has deteriorated in ten years

It is a sad record which is confirmed. For the second consecutive month, 90% of French people say they do not have confidence in the economic future of the country, according to the October barometer from Odoxa for Challenges-Agipi-BFM Business. Even during the subprime and Covid crises, morale had not been this bad: its level is at its lowest in twenty years. A trend confirmed by INSEE. In its latest survey, the household confidence index fell to its lowest level in thirteen years. This depression is largely explained by the concern expressed with regard to purchasing power.

In fact, 91% of respondents believe that the situation of all households has deteriorated over the last ten years. A feeling which seems to have tended to worsen over the recent period: 70% of those questioned think that purchasing power has deteriorated over the past half-century and 83% that it has decreased over the last twenty-five years.

Usually, the French are much more pessimistic about the future of the country than about their personal situation. However, this time, the perception gap is reduced: 85% of respondents believe that their own purchasing power has deteriorated in ten years. “The subject has always been a major concern, but it has clearly become the number one priority,” observes Gaël Sliman, president of Odoxa.

What measures can be taken to increase purchasing power?

However, this very gloomy feeling contrasts with the reality of the figures. According to INSEE, the purchasing power of households has increased in twenty years by 13.4% per consumption unit. A measure that takes into account the number of members of the household and their age. An increase of 0.6% per year on average. How to explain this paradox? “Purchasing power increased significantly in the 1970s, but the rate of increase has slowed significantly since then,” explains Gaël Sliman. And the recent declines weigh more heavily on people's minds. » In fact, for the second consecutive year, purchasing power should decrease by 0.7% per consumption unit, according to INSEE. A phenomenon which can be explained in particular by the return of inflation (3.4% over one year), largely fueled by the increase in fuel prices.

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It is therefore no surprise that the French majority want a reduction in VAT on these products (63% are in favor), as proposed by Marine Le Pen. The National Rally candidate wants to reduce her rate from 20% to 5.5%. Or aspire to a price freeze (supported by 53%), defended by the Insoumis Jean-Luc Mélenchon, who wants to cap a liter of gasoline at 1.70 euros.

Machine-translated from French