With the jump in inflation in recent months, the Smic will automatically increase on May 1 between 2.4% and 2.6%. The increase will be between 30 and 35 euros per month.
According to the INSEE estimate published Thursday morning, the increase in the consumer price index reached +4.5% in March over one year. Result, the Smic will raise you on May 1st. The exact increase will be known on April 15 when INSEE publishes its final estimate of the rise in prices in March. Currently at 1,603 euros gross per month, the Smic should be in a range between 1,641 and 1,647 euros on May 1. Net, it would go from 1269euros to 1299-1304euros, i.e. an increase of 30 35 euros. The gross hourly minimum wage would go from 10.57 to 10.82-10.85 euros.
Mechanical rise
This increase is mechanical because the Labor Code provides that when the national consumer price index reaches a level corresponding to an increase of at least 2% compared to the index observed when the Smic was established immediately before, the minimum wage is increased in the same proportion the following month. However, the figures published Thursday by INSEE show that the increase in the price index exceeded this threshold in March compared to November 2021, the reference month for the last revaluation in January.
The rise in the minimum wage is calculated from the rise in prices for the poorest 20% of households, among whom the rise in energy costs is felt even more. In January, the Smic had increased by 0.9% after an exceptional increase of 2.2% in October, already due to inflation.
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A new rate for the Livret A?
Beyond the increase in the Smic, the government could decide to raise the rate of the Livret A and the LEP from May 1st. The first would rise from 11.3% and the second from 2.2 to 3.2%.
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