In 2023, although theinflation rateremains relatively high, it has fallen sharply thanks to a slowdown in the rise in energy and food prices, reaching an annual average of 4.9%, according to the latest Insee report. Over the course of the year, the Smic therefore followed these fluctuations, rising from 1,353.07 euros net per month in January 2023, to 1,383.08 euros net in December 2023.
And there's more to come . At the start of each calendar year, the public authorities readjust France's minimum income to bring wages into line with the monthly consumer price index for the lowest 20% of wage earners, explainsInsee.
On January 1, 2024, the amount of the Smic will therefore rise again. Insee reports that the minimum wage will be raised by 1.13%. On a gross basis, and for a legal 35-hour week, this gives a monthly income of 1,766.92 euros, or 11.65 euros per hour. In net terms, this equates to 1,398.69 euros per month.
This increase is not likely to be the last: economists consulted by Insee predict rising inflation in January and February 2023, with the cost of living expected to rise by up to 7%. It is therefore possible that the Smic will be adjusted again in the coming months.
In fact, if inflation exceeds 2%, the minimum wage will be automatically raised to allow households to adapt and keep pace with rising prices.
Minimum wage, sick leave, waste sorting... what's changing on January 1, 2024
What's in store for January 2024? Revaluation of the minimum wage, sick leave and stricter waste sorting... Discover what's in store for you in France from January 1, 2024. [Read more]
Minimum wage, sick leave, waste sorting... what's changing on January 1, 2024
