The minimum wage will be increased by 1.13% on 1er January 2024, bringing the gross hourly minimum wage to 11.65 euros, compared to 11.52 euros currently, according to a calculation by Agence France-Presse carried out on Friday December 15 and based on the level of inflation. For full-time work, the minimum wage will therefore increase by 19.72 euros gross per month, to 1,766.92 euros gross. This increase is significantly lower than what was predicted at the end of November by a group of experts on the minimum wage, which expected an increase of 1.7%.
Earlier, the National Institute of Statistics and Economic Studies (Insee) had given the latest inflation figures, which only showed an increase of 3.5% over one year in November, mainly thanks to “slowdown” the rise in prices of energy and services. INSEE thus revised its first estimate very slightly upward, which was +3.4%. Compared to October (+4%), however, this marks a clear slowdown.
“This drop in inflation results from the slowdown over one year in energy prices (+ 3.1%, after + 5.2% in October), services (+ 2.8%, after + 3.2% in October). %), manufactured products (+1.9%, after +2.2%)”detailed INSEE.
For energy, several prices are falling, notably those of petroleum products (−1.4%, after +1.8% in October) and diesel (−2.5%, after +1.6%). The increase in prices slowed down for gasoline (+7.5%, after +13.5%) and electricity (+16.1%, after +18.5%).
Food prices are stagnating
In services, it is transport prices, down significantly (−1.4%, after +5.4%), which explain the slowdown. “The prices of other services are increasing at a rate close to that of the previous month (+ 4.3%, after + 4.4%)”in particular those of social protection, catering, maintenance and repair of housing and private vehicles.
Over one year, prices of manufactured products increased by 1.9% in November, after +2.2% in October. On the other hand, the prices of food (+ 7.7%, after + 7.8%), one of the main drivers of inflation, and tobacco (+ 9.8%, after + 9.9%) slow down ” to a lesser extent “notes INSEE.
Core inflation – which excludes the most fluctuating elements, such as energy and certain food products, and thus makes it possible to identify an underlying trend in the evolution of prices – fell sharply, to + 3.6% over one year in November, compared to +4.2% over one year in October.
The harmonized consumer price index (HICP), used for comparisons at European level, “folds over a month (− 0.2%, after + 0.2% in October) » and slowed down over one year, increasing by 3.9% in November, after + 4.5% in October, reports INSEE.
“A general movement of disinflation”
The governor of the Bank of France, François Villeroy de Galhau, was confident on Friday about the “last mile” of the fight against inflation, which will consist of bringing price increases sustainably around the European objective of 2%. “Today we see a general movement of disinflation”rejoiced Mr. Villeroy de Galhau, the day after an update of inflation forecasts from the European Central Bank, which now expects prices to increase by 2.7% in 2024 in the euro zone.
If he does not rule out a rebound “technical” inflation in the coming months, “of the order of a few tenths of a point”the boss of the Banque de France assures him: this jump will not be enough to “break this underlying trend towards disinflation”. “We should not declare victory too early, but in this fight against inflation, we are scoring points”he congratulated himself.