On the rise in France: Minimum wage, savings interest rates
Ross Cullen in Paris
A shopper pays with a 10-euro bank note at a local market in Nice. /Eric Gaillard/Reuters

A shopper pays with a 10-euro bank note at a local market in Nice. /Eric Gaillard/Reuters

France is raising its minimum wage. The move by the French government is to try to combat high inflation and is a part of a package of measures designed to cushion the impact of the cost-of-living crisis.

The economic legislation was passed late last month and there will now be a 2 percent increase to the minimum monthly wage, which will rise to $1,360. Inflation in France rose further in July to reach 6.1 percent.

Interest rates are also on the rise, with the country's most popular savings plan hiking its rate to 2 percent. The 'Livret A' is a tax-free, instant-access savings account, and this development will take its rate to the highest level since 2012. 


The story of a Mariupol survivor

Fulfilling a promise... 1,500 years late

Swimming in Odesa's catacombs

Established two centuries ago by King Louis XVIII to pay back the country's debts from the Napoleonic wars, the Livret A now raises money towards social housing and the Eurozone debt – and there are something like 60 million accounts held in France. 

This year began with historic low interest rates as consumers were urged to spend more to help economies recover from the impact of the pandemic. But as the global economy has heated up, and the impacts of the war in Ukraine have started to be felt, the governor of the French central bank led calls for a rate rise.


COVID-19 health emergency over

Meanwhile, as one crisis grows, another has officially ended: France's state of health emergency, caused by COVID-19, has come to an end.

The measure was first introduced in March 2020 as the coronavirus pandemic took hold. During this time, the government imposed various restrictions to try to limit the spread of the virus, including two national lockdowns, a national curfew, an obligation to wear face masks in public, and the requirement to show a health pass to enter bars, restaurants, cinemas, and museums.

France's specialist COVID-19 Scientific Council, which advised the government on the pandemic, has now been disbanded and replaced by a national committee to analyze a wide range of potential public health risks.

However, the government does retain the power to reintroduce health or vaccine passes at the border for travelers if a new variant of COVID-19 causes the overall health situation to deteriorate.

Search Trends