Struggling with Inflation: The Impact on French People’s Mental Health and Budgeting

2023-06-02 20:58:06

Inflation: according to a survey carried out by Ifop for MonPetitForfait, many French people are struggling with inflation and have to make difficult choices. The survey revealed that people are making greater sacrifices than ever before.

According to the survey, after debiting compulsory expenses from bank accounts on the 10th of each month, 31% of French people have less than 100 euros remaining, of which 10% are overdrawn.

As a result, 58% of consumers have reduced their food spending in the last twelve months for financial reasons. This is twice as many people as Ifop found in 2007 (29%).

Half of French people skip meals

According to an Ifop survey, 51% of respondents say they skip meals regularly or occasionally, an increase of 7 points since June 2022. In addition, 41% have deferred certain health expenses over the past 12 months. , ie almost twice as much as fifteen years ago during the last inflationary crisis (25% in 2007).

In addition, 34% of French people admit having difficulty paying their housing charges on time, an increase of 5 points in eighteen months (29% in October 2021).

Although less important, it should be noted that 69% of French people sometimes give up going to the hairdresser for lack of money. Finally, 37% plan to take advantage of the simplified termination of subscription services, effective since June 1.

Link between money and mental health

Money and mental health are closely linked. A study by Ifop conducted among 1,525 people aged 18 or over, representative of the French population, shows that 47% of French people who have less than 100 euros on the 10th of the month have suicidal thoughts. This is twice as much as among those who never have such thoughts (28%).

The current high prices have a negative impact on the lives of the poorest French people, but also on their mental health. Anxiety and depressive disorders are much more common among people in financial difficulty, regardless of the indicator used. François Kraus of Ifop commented on this situation.

Inflation: “There are often several factors at the root of these psychological disorders, but the most financially fragile people show much higher levels of distress than the average,” he pointed out.

This situation also arouses strong discontent against the government, which has nevertheless put in place various shields and aid to protect the most fragile households. Thus, 73% of French people believe that the government is not doing enough to fight against rising prices.

  • : Ifop study for MonPetitForfait carried out by self-administered online questionnaire from May 5 to 9, 2023 with a sample of 1525 people, representative of the French population aged 18 and over.

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