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French lawmakers plan $8.4 billion aid for households to fight inflation

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A customer pays for goods at a Nice, France, local market on 7 June, 2022, using a ten euro banknote.

French legislators are drafting a bill that will help boost household purchasing power by increasing some forms of government assistance by 4%. The cost is €8 billion ($8.44bn) between July and April next year, Business Daily Les Echos reported on Sunday (26 June).

The report states that the proposed increases will apply to families, unemployed workers, and disabled people, as well as to pension payouts. They are expected to take effect in July.

As part of a separate bill, housing allowances could be increased by 3.5% beginning in July.

France's central bank predicted this month that French inflation would average 5.6% in 2019, before falling to 3.4% by 2023, and then easing to below the 2% target of the European Central Bank in 2024.

($1 = €0.9475)

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