France: Households’ purchasing power, the big gain
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In 2019, French households are expected to benefit from major purchasing power gains, which we forecast at roughly 2.5%, the biggest increase since 2007.
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Several factors will contribute to this big gain. Tax cuts will be the most visible source, but measures to support earned income and social benefits will also play a key role.
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Milder expected inflation will also help, but this factor could be reversed, especially if the current upturn in oil prices continues.
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