The French National Assembly voted to increase old-age pensions and social benefits by four per cent to mitigate the pain of rising inflation.
This will affect family allowances and minimum benefits for the destitute, as well as disability and student allowances.
The revaluation, which was approved almost unanimously in its first reading, Wednesday night, will take effect retroactively from July 1, 2022.
The Economy Minister Bruno Le Maire said France has already spent 23 billion euros (23.4 billion U.S. dollars) since 2021 to boost purchasing power, mainly to limit electricity and gas costs for consumers.
According to the INSEE statistics office, France’s annual average inflation rate is 5.8 per cent, still one of the lowest in the euro zone. (dpa/NAN)