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inflation pushes the French to use their savings


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inflation pushes the French to use their savings

A.Girault-Carlier, J.Weyl, N.Coadou J.Delage, F.Dumont, H.Dugué – France 2

France Televisions

As prices continue to rise, Tuesday, May 24, more and more French people are digging into their savings to meet their expenses.

With 1,000 euros per month and unemployed, Patricia Boulot cannot pay her daily expenses and has to dig into her A booklet.I have no choice (…), I am 58 years old, I do not want to hide from you that a bank does not want to give me a loan“, she explains. The French put less aside: if they saved 6 billion euros on their savings account A in January 2022, it is less than 2 billion in April 2022.

Precautionary savings are still resisting. Individuals who receive more than 4,000 euros per month manage to save between 25% and 30% of their income, compared to 5% for those receiving less than 2,000 euros per month. The most modest French people will continue, if they can (…), to draw in the coming months, due to the increase in prices“, indicates Philippe Crevel, director of the savings circle. If the rate of the booklet A was raised to 1er August, investments could rise again.

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