2024

Olympic

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<p>France, deeply immersed in an unprecedented political crisis, is preparing for the 2024 Olympic Games as a showcase of stability and prosperity. However, behind this spectacle lies a more complex economic reality. In July, inflation slightly resumed, reaching 2.3%, mainly due to the rise in energy prices. The text below explores in detail the recent developments in inflation and growth in France.</p> 
<h2 id="h-the-rise-in-energy-prices-a-key-factor-in-inflation">The rise in energy prices, a key factor in inflation</h2> 
<p>Despite a <strong>slight slowdown in June</strong>, inflation, <a href="https://www.cointribune.com/en/bitcoin-and-endless-inflation/" target="_blank" rel="noreferrer noopener">closely related to Bitcoin (BTC)</a>, picked up again in July, mainly due to the sharp increase in energy prices.</p>
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<p>The <a href="https://www.latribune.fr/economie/france/l-inflation-repart-legerement-a-la-hausse-au-mois-de-juillet-1003445.html" target="_blank" rel="noreferrer noopener">INSEE</a> reports a <strong>spectacular increase of 8.5% in energy prices</strong>, compared to 4.8% in June. According to UFC-Que Choisir, this sector has become the most inflationary in household budgets, with a <strong>21% increase in the average annual bill</strong> compared to January 2022.</p> 
<p>This trend is alarming because it indicates that <strong>energy costs will likely continue to rise,</strong> putting more and more strain on the purchasing power of the French people.</p> 
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<p>Dependence on gas prices, even when France does not need it, makes the situation even more volatile and unpredictable for the coming years.</p> 
<ul> 
 <li>Average annual energy bill up 21% compared to January 2022.</li> 
 <li>Energy price increase: 4.8% in June, 8.5% in July.</li> 
 <li>Dependence on gas prices projected until 2035.</li> 
</ul> 
<h2 id="h-french-economy-modest-growth-despite-challenges">French economy: Modest growth despite challenges</h2> 
<p>Despite this inflationary turbulence, France is showing modest economic growth. According to INSEE, <strong><a href="https://www.cointribune.com/en/economy-the-french-gdp-shows-moderate-growth-despite-the-real-estate-crisis/" target="_blank" rel="noreferrer noopener">GDP grew by 0.3%</a> in the second quarter of 2024</strong>, slightly exceeding economists’ forecasts.</p> 
<p>This performance, described as “excellent” by the resigning Economy Minister Bruno Le Maire, highlights <strong>a certain resilience of the French economy</strong>.</p> 
<p>The cumulative growth for the year has already reached 1%, suggesting the possibility of exceeding government forecasts. This economic recovery, albeit modest, stands out from other major European economies, notably Germany.</p> 
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<p>It remains to be seen whether this positive dynamic can be sustained in the face of persistent challenges such as inflation and the energy crisis.</p> 
<p>In conclusion, despite economic and political challenges, France has recorded some notable advances. Fortunately, EDF has announced the <a href="https://www.cointribune.com/en/economy-edf-announces-the-end-of-the-surge-in-electricity-prices-in-france/" target="_blank" rel="noreferrer noopener">end of electricity price surges in France by 2025</a>. But will inflation really go away?</p>
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French Economy: Inflation picks up in July – What is happening?

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