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France News Today

French news in English

Saturday, November 23, 2024

France's Poverty Rate Stable Despite High Inflation

Published: 2024-07-11

France's poverty rate remained steady at 14.4% in 2022, despite experiencing its highest inflation rate since the 1980s.

The National Institute of Statistics and Economic Studies (INSEE) reports that 9.2 million people lived below the poverty line, set at 1,216 euros per month for a single person.

While inflation reached 5.2% in 2022, up from 1.6% in 2021, the stability in poverty rates is attributed to many incomes being indexed to inflation.

However, the proportion of people experiencing material and social deprivation slightly increased to 13.6%.

Jean-Luc Tavernier, INSEE's director-general, emphasizes that reducing inequalities remains France's biggest challenge.