An update on what will change in July 2024 for your wallet and in your daily life.
Average gas price increases by almost 12%
Due to a revaluation of the network usage tariff and the rise in wholesale natural gas prices, the energy bill will increase from July 1, 2024. An increase of 11.7% compared to June is confirmed, and had been expected for several months. The average annual gas bill increases by 124 euros, from 1,060 euros per year to 1,184 euros.
The average reference price excluding tax increases from €77.32/MWh to €90.39/MWh. The Energy Regulatory Commission (CRE) recommends an annual price of between €114.30 and €277.43 per year for the subscription for July.
Measures to signal “shrinkflation”
“Shrinkflation” is a term used to define a business practice that involves increasing the price of a product while the quantity sold is decreasing. This practice is legal but controversial.
From July 1, 2024, distributors are required to inform consumers if products are affected by this practice, in medium and large stores (for stores with a sales area of 400 m2 or more). As indicated on the public service website, the information that must be displayed on the product packaging or on a label placed near the product concerned is as follows: “For this product, the quantity sold has increased from X to Y and its price at (specify the unit of measurement concerned) has increased by…% or…€”.
This will concern both food and non-food products sold in a constant quantity (household products, baby products, etc.). Pre-packaged foodstuffs in variable quantities or sold in bulk are not concerned.
Revaluation of unemployment insurance
Unemployment insurance benefits will benefit from a 1.2% increase on July 1, 2024. Around 2.7 million people in France should be affected.
New mandatory equipment in new vehicles
These features, usually reserved for high-end vehicles, will be mandatory for all cars sold in Europe from July 7: a black box, an attention loss warning, speed adaptor, lane keeping assistance, reversing camera. Note that if these features become mandatory, they can be deactivated when starting the vehicle.
