91 Percent of French Pessimistic as Inflation Soars, Growth Stalls

(MENAFN) An overwhelming share of the French public has lost confidence in the country's economic trajectory, with soaring energy costs, stalled growth, and eroding purchasing power converging into a crisis of public sentiment just months before a pivotal presidential election, according to a sweeping new poll released Sunday.

An Ipsos-BVA survey conducted for La Tribune Dimanche found that 91% of respondents expressed pessimism about France's economic situation, while 88% voiced anxiety over the broader trajectory of the global economy.

The findings land at a particularly fraught moment — less than a year before France's 2027 presidential election — as concerns over public debt, household spending power, and economic stagnation deepen across the country.

Purchasing power ranked as the foremost worry among respondents, cited by 49%, followed by the future of the national social welfare system at 41%. Roughly 30% flagged France's expanding debt and public deficits as a primary concern.

Inflation figures offer little reassurance. The survey highlighted a sharp uptick in price pressures, with the annual inflation rate climbing to 2.2% in April from 1.7% in March — its steepest reading since July 2024. Energy prices emerged as the principal culprit, surging 14.2% year-on-year in April after a 7.4% rise the month prior, largely driven by elevated oil prices tied to the ongoing Middle East conflict.

"The French feel a kind of resignation regarding purchasing power and are well aware that the government has no room to act on fuel prices," Ipsos BVA Managing Director Brice Tinturier was quoted as saying.

Mounting Pressure on Government
The fuel cost spiral has placed the government under intensifying scrutiny, even as energy giant TotalEnergies announced measures to cap gasoline and diesel prices. A separate Elabe poll conducted for BFMTV revealed that 71% of respondents consider those steps insufficient, demanding the company go further to contain costs at the pump. Around 65% also backed a temporary cut in fuel taxes for as long as oil prices remain elevated.

The economic picture was further clouded by the latest data from national statistics agency INSEE, which confirmed that France's gross domestic product flatlined at 0% growth in the first quarter of 2026 — a marked deterioration from the 0.2% expansion recorded in the final quarter of 2025.

INSEE attributed the deceleration in part to weakening exports, particularly a drop in aircraft deliveries by Airbus, compounded by sluggish domestic demand. Household spending on goods contracted by 0.6% in the first quarter, reversing a 0.4% gain in the prior period, with reduced outlays on diesel, gas, and electricity weighing heavily on the figures.

Against this backdrop of economic fragility, the Ministry of Public Accounts has tasked the General Inspectorate of Finance with evaluating the potential fallout of extending the current budget framework into 2027 — a contingency that would be triggered if parliament once again fails to pass a new finance bill before year's end.

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