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Inflation and politics drive French consumer confidence to its lowest level in nine years

INSEE reported that consumer confidence in France fell more than expected in June. It reached its lowest level in nine years as consumers are concerned about the economic outlook in view of high inflation and political uncertainty.

The information said that the consumer confidence index fell to 82 in June from 85 in May, the lowest level since July 2013.

The index for household confidence in the overall economic outlook deteriorated further, falling to its lowest level since May 2020 – at a time when France had introduced strict pandemic measures.

At the same time, rising inflation has weighed on many households in recent months. The political situation in France has also increased uncertainty about the economic outlook. Since President Emmanuel Macron’s party lost its majority in the parliamentary elections earlier this month.

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