The return of inflation will exacerbate the struggle between the generations

ANALYSIS – Retirees and working people, especially young people, have divergent interests.

Emmanuel Macron’s five-year term will end as badly as it started for retirees. In the name of the so-called “supply policy” supposed to support the activity, they were rewarded from the outset with a 1.7 percentage point increase in the CSG on their pensions (although the executive subsequently backtracked for the more modest). And today inflation is mechanically reducing their purchasing power. Complementary pensions have certainly been revalued by 1% on the 1er November and the basic pension will be 1.1% on 1er January 2022, far from the rise in consumer prices of 2.8% over the last twelve months.

Should we conclude that the 16.7 million retirees will be the big losers from a return to inflation? Nothing is less sure. They are undoubtedly bound hand and foot because unlike the active they can no longer work or change jobs to restore their image! But the fate of employees is hardly more enviable in the

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