France to raise minimum wage due to surging CPI (Sabong News)
Author
Xinhua
Date
APRIL 16 2022
The guaranteed minimum growth wage (SMIC) in France will increase by 2.65 percent from May 1 in order to follow the increase of the country’s consumer price index (CPI) for modest-income households, the country’s Ministry of Labor said on Friday.
With reference to the increase in CPI, the ministry said that the country’s gross minimum monthly wage for full-time employment will be raised from 1,603.12 euros (1,732.98 U.S. dollars) to 1,645.58 euros.
The minimum hourly gross wage will increase from 10.57 euros to 10.85 euros.
The CPI for modest-income households increased by 2.65 percent between November 2021 and March 2022, according to a report published on Friday by the National Institute of Statistics and Economic Studies (INSEE). France’s CPI increased by 1.4 percent in March 2022, and the annual increase was 4.5 percent, the INSEE said. (1 euro = 1.08 U.S. dollar)
