Global General

French minimum wage to rise again

(Xinhua)
Updated: 2011-04-19 13:51

PARIS -- The French minimum wage, or Le Smic, is likely to rise by 2 percent as of July 1 due to inflation pressure, French Economy Minister Christine Lagarde said on Monday on local television.

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Under French law, Le Smic, currently at 9 euros ($12.8) per hour or 1,365 euros ($1,937) a month, should be raised whenever inflation increases 2 percent.

Recent figures from the national statistics bureau Insee showed that since early this year, consumer prices, in particular of food and energy, have gone up significantly. The most recent inflation indicator stood at 2 percent in March.

According to earlier reports from the financial newspaper Les Echos, this potential change means the minimum wage will rise again, to 9.18 euros ($13) per hour or 1,392 euros ($1,974.6) per month, this summer despite the fact that it was last adjusted in January.