How much more expensive will life in France be in 2024?
From food to fuel, medical costs to property taxes - here's how we can expect the cost of living to rise in 2024 in France, and how much you may need to budget for everyday items.
Compared to many of its neighbours, France has been relatively shielded from the soaring inflation seen across Europe since 2022 - mostly thanks to government initiatives such as capping gas and electricity prices - although the country has struggled with food price inflation.
At one point in 2022, France had an inflation rate of 6.2 percent, which was the lowest on the continent - followed by Spain at 9 percent, Italy at 9.4 percent, Germany at 10.9 percent, Belgium at 12.1 percent and finally the Netherlands at 17.1 percent. On the other side of the Channel, householders in the UK saw gas and electricity prices soar, in some cases rising to £1,000 a month.
But in 2023, the trend started to flip as inflation fell across the continent - by July, France’s inflation rate was 5.7 percent, above the Eurozone average of 5.3 percent and the 7th highest in the EU.
Consumer specialist, Rodolphe Bonnasse, told Econostrum in October that “in France, it works both ways. At the beginning, things go a little less badly and evolve less quickly in France, but in the end it is a little more complicated".
In good news, however, Bruno Le Maire told the French press: “I think that the year 2024 will be better than the year 2023 [which] was very hard for our compatriots with inflation and rising prices.
"I am convinced that in 2024, prices will fall a little faster and that things will get better,” the finance minister said.
Even though the minister confidently predicted that the "inflationary crisis is behind us" and that inflation would fall to 2.6 percent in 2024”, many parts of life in France are still likely to get a bit more expensive in the new year.
Here is what you can expect when budgeting for 2024 in France:
READ MORE: What changes about life in France in 2024
Food
Food prices in France have been strongly affected by inflation, although that appears to be declining. According to Le Maire, food inflation (year-on-year) specifically fell to 7.7 percent in October 2023, compared to 9.7 percent in September and 15.9 percent in March.
In August, Le Maire also announced that he had reached a deal with supermarkets and manufacturers to freeze the prices of at least 5,000 items, meaning prices "would not increase" at the start of 2024, according to 20 Minutes.
According to Franceinfo, a 'panier' or basket of 37 everyday food and hygiene products cost an average of €108.51 in November 2023, €1.10 less than the previous month.
Costs differed by region, with groceries least expensive in western France and most expensive in the capital region and the south-east. You can see an interactive map by Franceinfo with average 'panier' costs here.
Naturally, this will have a knock-on effect on prices in restaurants and cafés.
Electricity and Gas
French householders were largely protected by the 'price shield' from the soaring energy prices seen across Europe after Vladimir Putin's invasion of Ukraine.
The electricity price 'shield' will end on January 1st, 2025, but the French government has discussed plans to slowly phase it out until then. As such, price increases in electricity are to be expected in 2024 for households.
According to Le Parisien, citing France's minister of environment, Agnes Pannier-Runacher, electricity price increases "should not exceed 10 percent", when reviewed in February.
This would amount to around an extra €150 per year for the average household.
As for gas, the French government ended the cap on price-hikes during the summer of 2023, due to decreases in gas prices which had returned to 2021 levels.
However, it is possible your gas bill will increase in 2024. The principal gas distributor in France, GRDF, will set new tariff rates in July 2024. GRDF reportedly suggested a 41 percent price increase, but France's energy regulation body CRE declined it for being too high. According to French energy media, L'EnerGeek, the average increase will likely be set to 30 percent.
Practically speaking, this would mean an increase of approximately 6.3 percent on average yearly energy bills for most households (those who use gas only for heating). Households who also use gas for cooking and hot water could see their bills rise by 11.3 percent, according to the energy media.
Healthcare
Following demands from doctors, the cost of a GP appointment rose by €1.50 in November, and the new rate will remain in 2024. For 'category 1' doctors - that is, doctors who charge the government-agreed amount (which is most of them), general practitioner appointments went up from €25 to €26.50.
For a specialist, rates will increase from €30 to €31.50, and for 'complex' consultations with a specialist, the rate will rise from €46 to €47.50 - you can find examples of which consultations count as 'complex' here.
Around 70 percent of this is reimbursed by the State via the carte vitale, and the rest can be paid by the optional top-up insurance known as mutuelles.
Facts & Figures and Addactis predicted to BFMTV that yearly prices for mutuelles would rise on average by eight percent in 2024 - currently the average price for a family of two adults and two children is €1,172 a year, meaning a monthly expenditure of approximately €98. For employees, their company must pay half.
Other types of insurance, like car and home insurance, were also expected to go up - by four to five percent and six to seven percent respectively.
Driving
Prices for petrol and diesel remain high in France but TotalEnergies, the oil and gas giant that operates a third of France's service stations, has promised to keep in place its €1.99 fuel price limit throughout 2024.
As of mid-November, a litre of SP-98 cost an average of €1.93. As for SP-95, the average was €1.89 and E10 was €1.86.
Prices have decreased slightly over 2023 - you can keep up with fuel costs in real time in France using the government map: here.
If you own a car, you need a contrôle technique vehicle inspection every two years. The average cost as of 2023 was around €78. Luckily, there are ways to save money on the inspection, and costs differ based on location.
After several delays, France is also expected to finally introduce a vehicle safety test for motorbikes and scooters starting in April 2024.
The annual increase for tolls on France's autoroutes has been confirmed at an average increase of three percent - toll charges for the Mont Blanc and Fréjus tunnels will rise by 3.23 percent and 8.87 percent respectively, while the rest of France's motorway network will see rises at or just below three percent.
While France has scrapped several measures intended to help households cope with high fuel costs, the government was set to maintain a one-off means-tested payment of €100 is available for motorists on a low income who need their car for work.
Public transport
For those getting around by public transportation, prices are also poised to rise.
For those in the Paris region, for example, the monthly cost of a Navigo pass will increase to €86.30 from January 1st. However, anyone who has paid their annual bill upfront will not see any increase until their subscription runs out.
Also in Paris - the cost of Metro/bus/tram tickets will double while the Olympics and Paralympics are on (July 28th to September 8th) - although this will not affect residents who have a monthly pass or subscription, or anyone who buys their tickets in advance.
Finally, the 2024 budget also contains a proposal to increase the tax on plane tickets from its current modest €3-€18 per flight, although the final amounts have so far not been confirmed.
Renting property
Naturally this varies greatly based on where you live in France with Paris remaining the most expensive area. As of November 2023, the average cost per square metre of a furnished, 1-bedroom apartment was €35.50 in France's capital city. This means that a one-bedroom of 35 square metres would cost about €1,242 per month.
Paris is well-above national levels - in contrast, the average price in France per square metre was €15.50 for a one-bedroom apartment.
In Clermont-Ferrand, one of France's most affordable towns, the average price was €11.80 per square metre, according to French property site SeLoger.
Cities including Paris, Lille, Lyon, Bordeaux and Montpellier are all considered to be 'zones tendues', meaning there is a housing shortage. These areas can apply rent controls, and you can find the list of relevant cities and towns here.
This rent control scheme is set to remain in place until at least July 2024. When it comes to Paris, you can even see the rent controls based on arrondissement using this interactive map.
There are also strict limits on how much your landlord can increase your rent - you can simulate how much yours might increase by in 2024 using this calculator.
Buying property
Interest rates in France have quadrupled over the past two years. In August, average mortgage rates were 3.62 percent, which increased to 3.73 percent in September and up to 4.12 percent in October, according to Franceinfo.
As such, many would-be buyers have struggled to access credit in 2023, and new-build sales were especially affected having decreased by 31.3 percent when compared with 2022.
READ MORE: Why France is facing a 'property crisis'
Experts believe that 2024 will be a year of 'stabilisation' for interest rates, but more accessible rates may not be available until 2025, according to Franceinfo.
In terms of property prices, according to Meilleurs Agents, on average cost of non-new builds, as of November 2023, had decreased by 0.7 percent when compared with November 2022. The online real estate valuation group specified that property prices were generally stagnant across most of France, particularly in major cities.
There was, however, there was a year-on-year increase of 2.2 percent in property prices for rural areas in comparison to October 2022.
As for what to expect for 2024, Meilleurs Agents predicted that property prices would remain on a downward trajectory during the first few months of the new year.
As of November 2023, the average price per metre squared across all of France was €3,178, according to SeLoger, with prices slightly higher for apartments than single-family homes.
Property taxes
If you own property in France you will also pay property taxes, and these have seen a sharp increase in many areas in recent years.
All property-owners across France saw a 7.1 percent increase in their taxe foncière 2023 due to inflation. However, local authorities also have the power to increase their rates further up to a maximum of 60 percent.
In 2022, according to the finance specialists Moneyvox, the average annual taxe foncière bill was €895 (or €74 a month if you opt to pay monthly). The département with the highest average annual property tax bill was Essonne at €1,351 and the lowest average bills were found in Indre at €565.
As for 2024, you can expect your taxe foncière to at least increase with inflation, in addition to whatever rate your area decides to apply. These are the areas where property taxes increased the most in 2023.
Second-home owners will also pay taxe d'habitation - in 2022, the average bill was €772 per year.
Local authorities in zones tendues also have the power to impose a surcharge on taxe d'habitation for second-homes of up to 60 percent, which could increase your bill by several hundred euro in 2024 if applied. You can find out if an area is considered to have a housing shortage here.
Salary
The French minimum wage, known as the SMIC, is revised in January 1st in line with inflation. As of November 2023, it was €20,814.73 per year before taxes.
Other costs
Non-essential expenditures - like streaming subscriptions - were also poised to be higher in 2024. Disney +, like Netflix, Amazon and Apple TV, raised their prices in November 2023. This means that a simple package will go from €8.99 per month to €11.99 in 2024.
Comments
See Also
Compared to many of its neighbours, France has been relatively shielded from the soaring inflation seen across Europe since 2022 - mostly thanks to government initiatives such as capping gas and electricity prices - although the country has struggled with food price inflation.
At one point in 2022, France had an inflation rate of 6.2 percent, which was the lowest on the continent - followed by Spain at 9 percent, Italy at 9.4 percent, Germany at 10.9 percent, Belgium at 12.1 percent and finally the Netherlands at 17.1 percent. On the other side of the Channel, householders in the UK saw gas and electricity prices soar, in some cases rising to £1,000 a month.
But in 2023, the trend started to flip as inflation fell across the continent - by July, France’s inflation rate was 5.7 percent, above the Eurozone average of 5.3 percent and the 7th highest in the EU.
Consumer specialist, Rodolphe Bonnasse, told Econostrum in October that “in France, it works both ways. At the beginning, things go a little less badly and evolve less quickly in France, but in the end it is a little more complicated".
In good news, however, Bruno Le Maire told the French press: “I think that the year 2024 will be better than the year 2023 [which] was very hard for our compatriots with inflation and rising prices.
"I am convinced that in 2024, prices will fall a little faster and that things will get better,” the finance minister said.
Even though the minister confidently predicted that the "inflationary crisis is behind us" and that inflation would fall to 2.6 percent in 2024”, many parts of life in France are still likely to get a bit more expensive in the new year.
Here is what you can expect when budgeting for 2024 in France:
READ MORE: What changes about life in France in 2024
Food
Food prices in France have been strongly affected by inflation, although that appears to be declining. According to Le Maire, food inflation (year-on-year) specifically fell to 7.7 percent in October 2023, compared to 9.7 percent in September and 15.9 percent in March.
In August, Le Maire also announced that he had reached a deal with supermarkets and manufacturers to freeze the prices of at least 5,000 items, meaning prices "would not increase" at the start of 2024, according to 20 Minutes.
According to Franceinfo, a 'panier' or basket of 37 everyday food and hygiene products cost an average of €108.51 in November 2023, €1.10 less than the previous month.
Costs differed by region, with groceries least expensive in western France and most expensive in the capital region and the south-east. You can see an interactive map by Franceinfo with average 'panier' costs here.
Naturally, this will have a knock-on effect on prices in restaurants and cafés.
Electricity and Gas
French householders were largely protected by the 'price shield' from the soaring energy prices seen across Europe after Vladimir Putin's invasion of Ukraine.
The electricity price 'shield' will end on January 1st, 2025, but the French government has discussed plans to slowly phase it out until then. As such, price increases in electricity are to be expected in 2024 for households.
According to Le Parisien, citing France's minister of environment, Agnes Pannier-Runacher, electricity price increases "should not exceed 10 percent", when reviewed in February.
This would amount to around an extra €150 per year for the average household.
As for gas, the French government ended the cap on price-hikes during the summer of 2023, due to decreases in gas prices which had returned to 2021 levels.
However, it is possible your gas bill will increase in 2024. The principal gas distributor in France, GRDF, will set new tariff rates in July 2024. GRDF reportedly suggested a 41 percent price increase, but France's energy regulation body CRE declined it for being too high. According to French energy media, L'EnerGeek, the average increase will likely be set to 30 percent.
Practically speaking, this would mean an increase of approximately 6.3 percent on average yearly energy bills for most households (those who use gas only for heating). Households who also use gas for cooking and hot water could see their bills rise by 11.3 percent, according to the energy media.
Healthcare
Following demands from doctors, the cost of a GP appointment rose by €1.50 in November, and the new rate will remain in 2024. For 'category 1' doctors - that is, doctors who charge the government-agreed amount (which is most of them), general practitioner appointments went up from €25 to €26.50.
For a specialist, rates will increase from €30 to €31.50, and for 'complex' consultations with a specialist, the rate will rise from €46 to €47.50 - you can find examples of which consultations count as 'complex' here.
Around 70 percent of this is reimbursed by the State via the carte vitale, and the rest can be paid by the optional top-up insurance known as mutuelles.
Facts & Figures and Addactis predicted to BFMTV that yearly prices for mutuelles would rise on average by eight percent in 2024 - currently the average price for a family of two adults and two children is €1,172 a year, meaning a monthly expenditure of approximately €98. For employees, their company must pay half.
Other types of insurance, like car and home insurance, were also expected to go up - by four to five percent and six to seven percent respectively.
Driving
Prices for petrol and diesel remain high in France but TotalEnergies, the oil and gas giant that operates a third of France's service stations, has promised to keep in place its €1.99 fuel price limit throughout 2024.
As of mid-November, a litre of SP-98 cost an average of €1.93. As for SP-95, the average was €1.89 and E10 was €1.86.
Prices have decreased slightly over 2023 - you can keep up with fuel costs in real time in France using the government map: here.
If you own a car, you need a contrôle technique vehicle inspection every two years. The average cost as of 2023 was around €78. Luckily, there are ways to save money on the inspection, and costs differ based on location.
After several delays, France is also expected to finally introduce a vehicle safety test for motorbikes and scooters starting in April 2024.
The annual increase for tolls on France's autoroutes has been confirmed at an average increase of three percent - toll charges for the Mont Blanc and Fréjus tunnels will rise by 3.23 percent and 8.87 percent respectively, while the rest of France's motorway network will see rises at or just below three percent.
While France has scrapped several measures intended to help households cope with high fuel costs, the government was set to maintain a one-off means-tested payment of €100 is available for motorists on a low income who need their car for work.
Public transport
For those getting around by public transportation, prices are also poised to rise.
For those in the Paris region, for example, the monthly cost of a Navigo pass will increase to €86.30 from January 1st. However, anyone who has paid their annual bill upfront will not see any increase until their subscription runs out.
Also in Paris - the cost of Metro/bus/tram tickets will double while the Olympics and Paralympics are on (July 28th to September 8th) - although this will not affect residents who have a monthly pass or subscription, or anyone who buys their tickets in advance.
Finally, the 2024 budget also contains a proposal to increase the tax on plane tickets from its current modest €3-€18 per flight, although the final amounts have so far not been confirmed.
Renting property
Naturally this varies greatly based on where you live in France with Paris remaining the most expensive area. As of November 2023, the average cost per square metre of a furnished, 1-bedroom apartment was €35.50 in France's capital city. This means that a one-bedroom of 35 square metres would cost about €1,242 per month.
Paris is well-above national levels - in contrast, the average price in France per square metre was €15.50 for a one-bedroom apartment.
In Clermont-Ferrand, one of France's most affordable towns, the average price was €11.80 per square metre, according to French property site SeLoger.
Cities including Paris, Lille, Lyon, Bordeaux and Montpellier are all considered to be 'zones tendues', meaning there is a housing shortage. These areas can apply rent controls, and you can find the list of relevant cities and towns here.
This rent control scheme is set to remain in place until at least July 2024. When it comes to Paris, you can even see the rent controls based on arrondissement using this interactive map.
There are also strict limits on how much your landlord can increase your rent - you can simulate how much yours might increase by in 2024 using this calculator.
Buying property
Interest rates in France have quadrupled over the past two years. In August, average mortgage rates were 3.62 percent, which increased to 3.73 percent in September and up to 4.12 percent in October, according to Franceinfo.
As such, many would-be buyers have struggled to access credit in 2023, and new-build sales were especially affected having decreased by 31.3 percent when compared with 2022.
READ MORE: Why France is facing a 'property crisis'
Experts believe that 2024 will be a year of 'stabilisation' for interest rates, but more accessible rates may not be available until 2025, according to Franceinfo.
In terms of property prices, according to Meilleurs Agents, on average cost of non-new builds, as of November 2023, had decreased by 0.7 percent when compared with November 2022. The online real estate valuation group specified that property prices were generally stagnant across most of France, particularly in major cities.
There was, however, there was a year-on-year increase of 2.2 percent in property prices for rural areas in comparison to October 2022.
As for what to expect for 2024, Meilleurs Agents predicted that property prices would remain on a downward trajectory during the first few months of the new year.
As of November 2023, the average price per metre squared across all of France was €3,178, according to SeLoger, with prices slightly higher for apartments than single-family homes.
Property taxes
If you own property in France you will also pay property taxes, and these have seen a sharp increase in many areas in recent years.
All property-owners across France saw a 7.1 percent increase in their taxe foncière 2023 due to inflation. However, local authorities also have the power to increase their rates further up to a maximum of 60 percent.
In 2022, according to the finance specialists Moneyvox, the average annual taxe foncière bill was €895 (or €74 a month if you opt to pay monthly). The département with the highest average annual property tax bill was Essonne at €1,351 and the lowest average bills were found in Indre at €565.
As for 2024, you can expect your taxe foncière to at least increase with inflation, in addition to whatever rate your area decides to apply. These are the areas where property taxes increased the most in 2023.
Second-home owners will also pay taxe d'habitation - in 2022, the average bill was €772 per year.
Local authorities in zones tendues also have the power to impose a surcharge on taxe d'habitation for second-homes of up to 60 percent, which could increase your bill by several hundred euro in 2024 if applied. You can find out if an area is considered to have a housing shortage here.
Salary
The French minimum wage, known as the SMIC, is revised in January 1st in line with inflation. As of November 2023, it was €20,814.73 per year before taxes.
Other costs
Non-essential expenditures - like streaming subscriptions - were also poised to be higher in 2024. Disney +, like Netflix, Amazon and Apple TV, raised their prices in November 2023. This means that a simple package will go from €8.99 per month to €11.99 in 2024.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.