The minimum wage will increase by 2.65% on May 1 and will exceed 1,300 euros net – Le Monde

The minimum growth wage (smic) will automatically increase by 2.65% on May 1 due to the high inflation recorded since November, the Ministry of Labor announced on Friday April 15. For a full-time job, the monthly minimum wage will be 1,645.58 euros gross. Net, it will drop from 1,269 euros to 1,302.64 euros. The gross hourly minimum wage will drop from 10.57 euros to 10.85 euros. In France, the purchasing power of minimum wage workers is protected by an automatic revaluation mechanism enshrined in law, which ensures that the minimum wage increases at least as fast as inflation affecting households with the lowest incomes. Exceptional increase of 2.2% in October According to the final results of the consumer price index in March published by the National Institute of Statistics and Economic Studies (Insee) on Friday, inflation excluding tobacco between November 2021 and March 2022 is 2.65% for the 20% of households with the lowest incomes. In January, the minimum wage had increased by 0.9% after an exceptional increase of 2.2% in October, already due to inflation. Over one year (from May 2021 to May 2022), the minimum wage will have increased by 5.9%, or 72 euros net. Read also Three questions to understand how the minimum wage is revalued Le Monde and AFP