A decree published this weekend in the official journal confirmed the increase in the minimum interprofessional growth wage (Smic) from this Monday, August 1. This revaluation is directly linked to the acceleration of inflation in recent months, since the last revision of the Smic on May 1st.
Automatic reset
The Labor Code provides for an automatic revaluation of the minimum wage during the year when the consumer price index (excluding tobacco) for the 20% of households with the lowest incomes (first quintile) increases by more than 2% compared to the index taken into account when establishing the last amount of the minimum wage. It is then increased automatically in the same proportions. In detail, this first quintile price index evolved from 109.37 in March to 111.57 in June (+2.01%). The Smic is thus revalued by 2.01% and goes from a gross hourly amount of €10.87 to €11.07.
€1,329 net
The minimum wage stood until the end of July at €1,645.58 gross per month (€1,302.64 net) on the basis of the legal working time of 35 hours per week. It now stands at €1,678.95 gross, or approximately €1,329 net. This represents an increase of just over €26 net per month for the full-time employees concerned.
This is the third increase in the minimum wage this year after an initial increase of 0.9% on January 1, then that of 2.65% in May.