French energy ‘tariff shield’ cut inflation by 2.6% in 2022 – report
Authors say measures helped to boost household purchasing power and corporate margins
The French government’s reaction to the surge in energy prices reduced domestic inflation by 2.6% over 2022 and 2023 while costing 2.2% of GDP, according to research from the Banque de France.
The country’s “energy tariff shield” froze regulated gas tariffs at their October 2021 level for the whole of 2022 and limited their rise to 15% in 2023. It involved the government reducing energy taxes and paying subsidies to gas and electricity suppliers. The state also provided €15 billion in income
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