Bruno Le Maire says he is aiming for “5% inflation at the start of 2023”, “4% at the end of 2023” and “2% during 2024”
This Thursday, the Minister of the Economy Bruno Le Maire announced his inflation targets, saying he wanted to bring it down to 5% at the start of 2023, 4% at the end of 2023 and 2% during 2024, but warning that in the event of a crisis ” everything could be shattered”. He also insisted on the need to “reassure” the French about inflation
The Minister of Economy and Finance Bruno Le Maire unveiled his inflation targets on Thursday, saying he wanted to bring it down to 5% at the start of 2023, 4% at the end of 2023 and 2% during 2024, but warning that in the event of a crisis “everything could be shattered”. “On inflation I give you objectives and these are only objectives, not forecasts, our objectives would be to bring inflation down to 5% at the beginning of the year 2023 then 4 at the end of the year 2023 then 2 in the course of the year 2024”, he declared during a debate devoted to the protection of companies organized by the cabinet ARC.
“I don’t know if we will reach them, if the crisis in Ukraine escalates, all these figures are shattered, if there is a major crisis in China, all these figures are shattered, I I am aware, so I give them with great caution,” he added. The rise in consumer prices in France slowed to 5.6% year on year in September, against 5.9% in August, according to INSEE, which is due to publish its first estimate for the month of October next week. The statistical institute, however, predicted in its note on the economy for the last quarter a rebound in inflation at the end of the year after stabilizing in October.
Bruno Le Maire insisted on the need to “reassure” the French about inflation, adding that his objectives constituted his “battle plan” because “everything is bearable except inflation”. According to him, the rise in prices is “generating anxiety” for households. “It’s not just an economic difficulty, it’s a social difficulty, a political difficulty, people feel taken by the throat (…) and that’s how political crises start,” he said. he hammered.