French consumer confidence fell in March to a one-year low as inflation concerns soared to a record high.
The Insee statistical service announced that the consumer confidence index fell to 91 points from 97 in February, in the wake of Russia’s invasion of Ukraine.
The result was the lowest since February 2021, and was lower than analysts’ estimates for 94 points.
The percentage of households that expect inflation to rise next year has risen 50 points to its highest level since 1972, when the survey began, Insee said.
With elections approaching next month, the government has announced measures of more than 25 billion euros to cap gas and electricity prices, offset the impact of inflation on low incomes and cut prices. fuel.
Source: Capital
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