{"id":34726,"date":"2026-02-10T12:02:10","date_gmt":"2026-02-10T11:02:10","guid":{"rendered":"https:\/\/observatoirecetelem.com\/?page_id=34726"},"modified":"2026-02-10T12:07:46","modified_gmt":"2026-02-10T11:07:46","slug":"slight-breeze-of-optimism-in-europe-for-2026","status":"publish","type":"page","link":"https:\/\/observatoirecetelem.com\/en\/lobservatoire-cetelem-de-la-consommation\/observatory-of-consumption-2026\/slight-breeze-of-optimism-in-europe-for-2026","title":{"rendered":"Slight Breeze of Optimism in Europe for 2026"},"content":{"rendered":"<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>MACROECONOMIC CONTEXT: IMPROVEMENT IN THE EURO ZONE<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">After holding up well in 2025 (1.5%), growth in the Eurozone should strengthen in 2026 (+1.6%) according to forecasts from BNP PARIBAS economic research. GDP growth of 1.4% in Germany in 2026 and increased military spending in Europe will help to sustain economic growth.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">In addition, the buoyancy of the labour market combined with inflation that is likely to remain below the 2% target will also be factors supporting European morale and household consumption.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">Against this backdrop, Spain will remain the driving force behind the Eurozone\u2019s main economies, with growth expected to be well above 2%.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">In France, supported by a revival in aerospace production and exports, as well as by investment from nonfinancial companies, growth is expected to rise from +0.8% in 2025 to +1.1% this year.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">Disinflation is now clear, continuing in 2025 (1% on average compared with 2.3% in 2024 according to the harmonised index), which for the moment has not led to an acceleration in household consumption growth or a fall in the household savings rate.<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34727\">\n            Fig 1 &#8211; GDP growth and inflation by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-1.png\"\n            download\n            aria-describedby=\"infographie-34727\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-1.png\" alt=\"Compare GDP growth and inflation rates from 2024 to 2027 for several countries\" class=\"img-fluid\"  aria-describedby=\"figcap-34727\"\/>\n          <span class=\"sr-only\" id=\"figcap-34727\">\n            The visual presents an economic barometer comparing GDP growth and inflation rates, in percentage, for several countries between 2024 and 2027. Data from 2025 to 2027 are estimates.\nData\nGDP Growth (in %):\nUnited States: 2.8 (2024), 1.9 (2025e), 1.9 (2026e), 1.8 (2027e)\nJapan: 0.1; 1.2; 0.7; 0.8\nUnited Kingdom: 1.1; 1.4; 1.1; 1.3\nEurozone: 0.9; 1.5; 1.6; 1.6\nGermany: -0.5; 0.3; 1.4; 1.5\nSpain: 3.5; 2.9; 2.4; 2.3\nFrance: 1.1; 0.8; 1.1; 1.3\nItaly: 0.5; 0.6; 1.0; 0.9\nBrazil: 3.4; 2.2; 1.8; 1.4\nChina: 5.0; 5.0; 4.7; 4.5\nIndia: 6.5; 6.8; 6.5; 6.6\nInflation (in %):\nUnited States: 2.9; 2.7; 2.8; 2.6\nJapan: 2.7; 3.1; 2.0; 2.5\nUnited Kingdom: 2.5; 3.4; 2.2; 2.2\nEurozone: 2.4; 2.1; 1.9; 2.1\nGermany: 2.5; 2.2; 1.6; 2.3\nSpain: 2.8; 2.7; 2.3; 1.9\nFrance: 2.3; 1.0; 1.1; 1.5\nItaly: 1.1; 1.7; 1.5; 1.9\nBrazil: 4.4; 5.0; 3.8; 3.8\nChina: 0.2; -0.1; 0.9; 1.0\nIndia: 4.6; 2.4; 4.1; 4.3\nMain Finding\nGrowth and inflation rates vary significantly across countries, with higher growth levels in India and China, and generally lower inflation in the Eurozone in the medium term.\nSource: BNP Paribas Economic Research, updated on January 5, 2026\nNote: e = estimates; Indian fiscal year is shifted\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>SITUATION IN DIFFERENT COUNTRIES: A STABLE OPINION<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">For the past two years, despite the international crises that have had a lasting impact on people\u2019s minds, the score given to the current situation in the survey\u2019s different countries has remained remarkably stable. For the second year running, it averages at 5.2 for the 10 countries included in this Observatoire Cetelem 2026, following the score of 5.1 recorded for the 2024 edition. France came in at a low 4.7, up 0.1 points but still well below the European average.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">However, there were significant variations from one country to another. Romania saw the sharpest fall (-0.6 points) against a backdrop of political tension, marked by the cancellation of the presidential elections at the beginning of the year. Conversely, Spain, Poland, Portugal and, to a lesser extent, Italy, rode the wave of their good economic results to record a significant rise in this rating.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">Since the Covid-19 period, there have also been significant changes. Germany was the most optimistic country at the time, with a score of 6.6, but has seen the sharpest drop (-1.4 points), and is now in the middle of the pack (5.2). This points to a deep crisis from which it is struggling to emerge. At the other end of the scale, Spain and Poland bounced back by 0.5 points, the latter country even becoming the most optimistic about its situation after Sweden.<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34729\">\n            Fig 2 &#8211; Perception of the general situation by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-2.png\"\n            download\n            aria-describedby=\"infographie-34729\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-2.png\" alt=\"Compare the average rating of the current national situation in ten countries on a scale of 1 to 10\" class=\"img-fluid\"  aria-describedby=\"figcap-34729\"\/>\n          <span class=\"sr-only\" id=\"figcap-34729\">\n            The graph presents the average evaluation of the current general situation of each country, on a scale of 1 to 10, expressed by the respondents.Data\nAverage ratings:\nGermany: 5.2 (change -0.1)\nBelgium: 5.7 (-0.1)\nSpain: 5.3 (+0.4)\nFrance: 4.7 (+0.1)\nItaly: 5.3 (+0.2)\nPoland: 5.8 (+0.4)\nPortugal: 5.7 (+0.3)\nRomania: 4.7 (-0.6)\nUnited Kingdom: 5.3 (-0.1)\nSweden: 5.9 (+0.1)\nAverage of all 10 countries: 5.2 (stable)\nMain Finding\nNational perceptions are generally around the average of 5.2, with moderate differences between countries.\nSource: Toluna\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>PERSONAL CIRCUMSTANCES: STILL IN GOOD SPIRITS<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">As usual, the score given to people\u2019s own personal circumstances was more flattering, up slightly by 0.1 points since last year, now reaching 6.1. The trend is positive in 7 out of 10 countries, particularly Poland and Portugal (+0.4 and +0.3 points).<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">Once again, Romania saw the biggest drop (-0.5 points). The problems with the old and dilapidated urban heating system, which affects many inhabitants personally, undoubtedly have a direct impact on the way Romanians feel. The score was also down in Germany, which now occupies the penultimate place in the ranking. Over the long term, Germans once again stood out for their pessimism, with -0.6 points recorded since the Covid-19 period. The Portuguese and the French showed the biggest increase in morale over the same period (+0.3 points).<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34731\">\n            Fig 3 &#8211; Perception of the current personal situation\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-3.png\"\n            download\n            aria-describedby=\"infographie-34731\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-3.png\" alt=\"Show the average rating of the current personal situation in ten countries on a scale of 1 to 10\" class=\"img-fluid\"  aria-describedby=\"figcap-34731\"\/>\n          <span class=\"sr-only\" id=\"figcap-34731\">\n            The graph measures the perception of the current personal situation of the respondents, on a scale of 1 to 10.\nData\nAverage ratings:\nGermany: 5.9 (-0.1)\nBelgium: 6.5 (+0.1)\nSpain: 6.1 (+0.1)\nFrance: 6.0 (+0.1)\nItaly: 6.1 (+0.1)\nPoland: 6.0 (+0.4)\nPortugal: 6.1 (+0.3)\nRomania: 5.7 (-0.5)\nUnited Kingdom: 6.5 (+0.2)\nSweden: 6.3 (change not indicated)\nAverage of all 10 countries: 6.1 (+0.1)\nMain Finding\nThe perception of the personal situation is, on average, more positive than that of the general situation, with an average above 6 out of 10.\nSource: Toluna\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>A POORER FINANCIAL SITUATION THAN THE MAJORITY<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">The discrepancy between people\u2019s satisfaction with their country\u2019s situation and with their personal circumstances leads Europeans to be cautious about their financial situation. Only a quarter of them thought it was better than that of the majority of other inhabitants. 40% saw no difference. 34% considered it inferior.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">While the Germans were the most likely to report a negative gap, they were also the most likely to see a positive one. The Romanians, Swedes, French and Spanish were the most critical, while the British and Poles were both optimistic.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">It should be noted, however, that the feeling that one\u2019s income is lower than that of the majority has been declining over the last 10 years.<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34733\">\n            Fig 4 &#8211; Perception of income compared to the majority\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-4.png\"\n            download\n            aria-describedby=\"infographie-34733\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-4.png\" alt=\"Distribution of perceptions of income lower, similar, or higher by country\" class=\"img-fluid\"  aria-describedby=\"figcap-34733\"\/>\n          <span class=\"sr-only\" id=\"figcap-34733\">\n            The graph presents the perception of the current income of the respondents compared to the majority of the inhabitants of their country.\nCategories:\nHigher than the majority\nSimilar to the majority\nLower than the majority\nDistribution for all countries (in %):\nHigher: 26\nSimilar: 40\nLower: 34\nExamples by country:\nGermany: 33 higher, 29 similar, 38 lower\nFrance: 24 higher, 41 similar, 35 lower\nItaly: 20 higher, 51 similar, 29 lower\nUnited Kingdom: 31 higher, 36 similar, 33 lower\nSweden: 26 higher, 37 similar, 37 lower\nMain Finding\nIn all countries, the most frequent perception is that of an income similar to the majority, followed by the perception of a lower income.\nSource: Toluna\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>SPENDING POWER IN DECLINE<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">In roughly comparable proportions, Europeans are experiencing the opposite trend when it comes to their spending power. 40% of respondents said it had fallen over the last 12 months (+1 point). Around half of Romanians (+15 points) and French people (-1 point) said they were now faced with this reality, while Poles (-3 points), Swedes (-2 points) and British people (-1 point) were less aware of it.A closer look at the results recorded since the health crisis reveals clear, contrasting trends. Despite a score that remains very high, over this period, the French were the most likely to notice a decline in the feeling that their spending power had decreased (-12 points), with the Belgians the only Europeans who were also positive on this subject (-5 points). Conversely, Romanians and Germans were more pessimistic (+21 points and +20 points respectively).<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34735\">\n            Fig 5 &#8211; Perception of decrease in purchasing power by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-5.png\"\n            download\n            aria-describedby=\"infographie-34735\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-5.png\" alt=\"Show the proportion of people who think their purchasing power has decreased over the past 12 months by country\" class=\"img-fluid\"  aria-describedby=\"figcap-34735\"\/>\n          <span class=\"sr-only\" id=\"figcap-34735\">\n            The visual presents, for several European countries, the proportion of respondents who declare that their purchasing power has decreased over the past 12 months.\nData\nFrance: 47%\nItaly: 42%\nGermany: 43%\nSpain: 39%\nPortugal: 40%\nBelgium: 38%\nUnited Kingdom: 32%\nSweden: 32%\nPoland: 28%\nRomania: 53%\nA synthesis value indicates that 40% of the surveyed population thinks their purchasing power has decreased over the past 12 months.\nMain Finding In all observed countries, a significant proportion of the population declares a decrease in their purchasing power, with higher levels in some Eastern and Southern European countries.\nSource: Toluna\n\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34737\">\n            Fig 6 &#8211; Evolution of the feeling of decrease in purchasing power\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-6.png\"\n            download\n            aria-describedby=\"infographie-34737\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-6.png\" alt=\"Compare the evolution of the percentage declaring a decrease in purchasing power from 2019 to 2026 by country\" class=\"img-fluid\"  aria-describedby=\"figcap-34737\"\/>\n          <span class=\"sr-only\" id=\"figcap-34737\">\n            The table presents the evolution, by country, of the proportion of respondents who think their purchasing power has decreased, over several waves of observation between 2019 and 2026.\nValues are expressed as a percentage of &#8220;decreased&#8221; responses.\nYears correspond to the waves of the Consumer Observatory.\n&#8220;2026&#8221; corresponds to a survey conducted in November 2025.\nThe &#8220;TOTAL&#8221; line corresponds to the average of the 10 countries.\n&#8220;Amplitude&#8221; corresponds to the difference between the lowest and highest values for a given year.\nData (key extracts)\nTotal: 34% (2019), 32% (2020), 36% (2021), 34% (2022), 53% (2023), 48% (2024), 39% (2025), 40% (2026)\nFrance: 59% (2019), 48% (2020), 38% (2021), 35% (2022), 59% (2023), 57% (2024), 48% (2025), 47% (2026)\nRomania: 32% (2019), 33% (2020), 45% (2021), 46% (2022), 53% (2023), 45% (2024), 38% (2025), 53% (2026)\nMain Finding The feeling of a decrease in purchasing power has strongly progressed since 2022, with a peak observed in 2023, and remains high in 2026 in several countries.\nSource: Toluna\n\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>THE GHOST OF INFLATION IS STILL FRIGHTENING<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">Having now returned to around 2% a year, inflation is no longer an economic problem in Europe. However, its ghost still haunts European consumers. Nearly 1 in 2 believe that prices have increased significantly over the past year (+3 points), with almost 9 out of 10 seeing them increase. Let us give credit to the Romanians, who are the most likely to rail against a sharp rise in prices (76%, +11 points), for being in tune with the economic reality in their country, where inflation is running at over 7%. The same goes for the British (also up 11 points), who are still experiencing some price hikes. On the other hand, more Spanish and Italian citizens than last year think that prices have increased significantly, even though inflation in their country is under control. What about the French? Along with the Belgians, the French show more restraint. These attitudes have remained constant over time in both countries.<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34739\">\n            Fig 7 &#8211; Perception of general price evolution\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-7.png\"\n            download\n            aria-describedby=\"infographie-34739\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-7.png\" alt=\"Distribution of perceptions of price evolution over 12 months in percentage of respondents\" class=\"img-fluid\"  aria-describedby=\"figcap-34739\"\/>\n          <span class=\"sr-only\" id=\"figcap-34739\">\n            The graph presents the perception of the general evolution of prices over the past 12 months\nValues are expressed as a percentage of respondents.\nData\nHave clearly increased: 48%\nHave rather increased: 40%\nHave remained stable: 11%\nHave rather decreased: (very low value, indicated graphically)\nHave clearly decreased: 1%\nA synthesis indicates that 88% of respondents think prices have increased, compared to 1% who think they have decreased.\nMain Finding Almost all respondents perceive an increase in prices over the past 12 months.\nSource: Toluna\n\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34741\">\n            Fig 8 &#8211; Evolution of perceptions of strong price increases\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-8.png\"\n            download\n            aria-describedby=\"infographie-34741\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-8.png\" alt=\"Show the evolution of the proportion declaring that prices have clearly increased from 2019 to 2026\" class=\"img-fluid\"  aria-describedby=\"figcap-34741\"\/>\n          <span class=\"sr-only\" id=\"figcap-34741\">\n            The table traces the evolution, by country, of the proportion of respondents who declare that prices have &#8220;clearly increased&#8221; over the past 12 months.\nValues are expressed as a percentage of &#8220;clearly increased&#8221; responses.\nYears correspond to the waves of the Consumer Observatory.\nThe &#8220;TOTAL&#8221; line corresponds to the average of the 10 countries.\n&#8220;Amplitude&#8221; indicates the difference between the lowest and highest national values.\nData (key extracts)\nTotal: 25% (2019), 23% (2020), 20% (2021), 46% (2022), 69% (2023), 59% (2024), 45% (2025), 48% (2026)\nFrance: 30% (2019), 20% (2020), 19% (2021), 35% (2022), 60% (2023), 55% (2024), 36% (2025), 37% (2026)\nPortugal: 25% (2019), 24% (2020), 21% (2021), 51% (2022), 88% (2023), 81% (2024), 61% (2025), 55% (2026)\nMain Finding The perception of strong price increases clearly progresses from 2022, with durably high levels until 2026.\nSource: Toluna\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34743\">\n            Fig 9 &#8211; Evolution of annual inflation rate by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-9.png\"\n            download\n            aria-describedby=\"infographie-34743\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-9.png\" alt=\"Presents the average annual inflation rates from 2016 to 2025 for several European countries\" class=\"img-fluid\"  aria-describedby=\"figcap-34743\"\/>\n          <span class=\"sr-only\" id=\"figcap-34743\">\n            The table presents the average annual inflation rates, expressed as a percentage, for several European countries between 2016 and 2025.\nValues correspond to the average annual rate of change in prices, as a percentage.\nCells containing a dash indicate unavailable data.\nData (extracts)\nGermany: 0.4% (2016), 1.7% (2017), 1.9% (2018), 1.4% (2019), 0.4% (2020), 3.2% (2021), 8.7% (2022), 6.0% (2023), 2.5% (2024), 2.2% (2025)\nFrance: 0.3%; 1.2%; 2.1%; 1.3%; 0.5%; 2.1%; 5.9%; 5.7%; 2.3%; 1.0%\nPoland: -0.2%; 1.6%; 1.2%; 2.1%; 3.7%; 5.2%; 13.2%; 10.9%; 3.7%; 3.8%\nRomania: -1.1%; 1.1%; 4.1%; 3.9%; 2.3%; 4.1%; 12.0%; 9.7%; 5.8%; 7.1%\nMain Finding Inflation rates reach a marked peak in 2022 in all countries, before decreasing gradually until 2025.\nSource: Eurostat and OECD forecasts, December 2025\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34745\">\n            Fig 10 &#8211; Evolution of economic perceptions since 2019\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-10.png\"\n            download\n            aria-describedby=\"infographie-34745\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-10.png\" alt=\"Compare the evolution of perceptions of purchasing power, prices, savings, and expenses from 2019 to 2026\" class=\"img-fluid\"  aria-describedby=\"figcap-34745\"\/>\n          <span class=\"sr-only\" id=\"figcap-34745\">\n            The graph traces the evolution of several economic perceptions expressed as a percentage, between 2019 and 2026.\nData (markers)\nAnticipation of increased savings: 48% (2019), 50% (2020), 54% (2021), then stabilization around 50% from 2022\nFeeling that prices have clearly increased: 25% (2019), 23% (2020), 20% (2021), strong increase from 2022 with a peak in 2023\nFeeling that purchasing power has decreased: 34% (2019), 32% (2020), 36% (2021), progression after 2022\nMain Finding Perceptions related to price increases and decreased purchasing power increase significantly from 2022, while savings and expense expectations evolve more moderately.\nSource: Toluna\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>READY TO CONSUME<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">With spending power holding up and spirits rising slightly, it is hardly surprising to see an increase in buying intentions. 45% of Europeans said they wanted to increase their spending this year, compared with 43% in 2025.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">With the exception of Romania, France and Italy, this score is up in all countries.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">However, the Romanians are the most inclined to give in to consumerist temptation, with Belgians and Poles also ready to do so. It should be noted that \u2018spenders\u2019 are in the majority only in these three countries. Conversely, the Germans and Swedes intended to show restraint, closely followed by the French and Portuguese. Over the long term, the British, Portuguese, Belgians and French stood out as showing an increase in their desire to consume.<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34747\">\n            Fig 11 &#8211; Intention to increase expenses by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-11.png\"\n            download\n            aria-describedby=\"infographie-34747\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-11.png\" alt=\"Compare the proportion of people planning to increase their expenses in the next 12 months by country\" class=\"img-fluid\"  aria-describedby=\"figcap-34747\"\/>\n          <span class=\"sr-only\" id=\"figcap-34747\">\n            The graph presents the proportion of respondents who declare that they will increase their expenses in the next 12 months\nData\nGermany: 36%\nBelgium: 52%\nSpain: 47%\nFrance: 40%\nItaly: 47%\nPoland: 51%\nPortugal: 42%\nRomania: 59%\nUnited Kingdom: 48%\nSweden: 35%\nAll countries: 45%\nMain Finding Almost half of the respondents, on average, declare that they plan to increase their expenses in the coming year.\nSource: Toluna\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>EVER HIGHER SAVINGS<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">With crisis after crisis having emerged in recent years, the subject of savings has constantly been in the news, as people are saving at levels rarely seen before. Overall, 2025 was no exception to the rule.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">The savings rate remained very high, particularly in Germany, France and Sweden. Moreover, there is nothing to suggest that we will see a significant fall in savings levels in 2026.<\/p>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">In fact, the Europeans surveyed for this Observatoire Cetelem showed strong saving intentions: 56% wanted to increase their savings, compared with 55% last year. In all countries, this was the view of the majority, with the exception of Belgium and France, which is, however, one of the most \u2018economical\u2019 countries in Europe. This cautious approach to finance was highest, by a significant margin, in a group of five nations made up of Poland, Portugal, Romania, the United Kingdom and Sweden.<\/p>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34749\">\n            Fig 12 &#8211; Intention to increase savings by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-12.png\"\n            download\n            aria-describedby=\"infographie-34749\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-12.png\" alt=\"Show the proportion of people planning to increase their savings in the next 12 months by country\" class=\"img-fluid\"  aria-describedby=\"figcap-34749\"\/>\n          <span class=\"sr-only\" id=\"figcap-34749\">\n            The graph indicates the proportion of respondents who declare that they want to increase their savings in the next 12 months.\nData\nGermany: 54%\nBelgium: 49%\nSpain: 58%\nFrance: 47%\nItaly: 51%\nPoland: 66%\nPortugal: 65%\nRomania: 64%\nUnited Kingdom: 64%\nSweden: 63%\nAll countries: 56%\nMain Finding In all observed countries, more than half of the respondents plan to increase their savings in the next 12 months.\nSource: Toluna\n\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container block-infographie\">\n  <div class=\"infographie\">\n                    <div class=\"infographie-header\">\n            <p id=\"infographie-34751\">\n            Fig 13 &#8211; Quarterly savings rate by country\n        <\/p>\n    \n            <a\n            class=\"download download-link\"\n            href=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-13.png\"\n            download\n            aria-describedby=\"infographie-34751\"        >\n            Download this infographic for your presentations\n        <\/a>\n        <\/div>\n          <div class=\"infographie-image-wrapper\">\n                          <figure>\n          <img decoding=\"async\" src=\"https:\/\/observatoirecetelem.com\/wp-content\/uploads\/2026\/02\/obs_conso_2026_barometre_gb_fig-13.png\" alt=\"Compare the quarterly savings rates from 2024 to 2025 for several European countries\" class=\"img-fluid\"  aria-describedby=\"figcap-34751\"\/>\n          <span class=\"sr-only\" id=\"figcap-34751\">\n            The graph presents the quarterly savings rate, expressed as a percentage of gross disposable income, for several European countries between 2024 and 2025.\nValues represent a percentage of gross disposable income.\nData (markers)\nGermany: around 19.6% at the highest observed quarter\nFrance: around 18.4%\nItaly: around 14.1%\nPoland: around 9.7%\nPortugal: around 12.6%\nRomania: value close to 1.3% in one quarter\nSweden: around 17%\nMain Finding Quarterly savings rates vary significantly from country to country, with marked differences between Western Europe and some Eastern European countries.\nSource: Eurostat\n          <\/span>\n        <\/figure>\n            <\/div>\n      <\/div>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n\n<div class=\"container\">\n<h2 class=\"wp-block-heading\"><strong>A CLOSER LOOK AT THE SENIOR CITIZENS BAROMETER<\/strong><\/h2>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\">As was the case 10 years ago, this edition of the Observatoire Cetelem for 2026 is devoted specifically to senior citizens. Let us take a look at the views of the over-60s on the topics covered by the Cetelem Barometer.<\/p>\n<\/div>\n\n<div class=\"container\">\n<ul class=\"wp-block-list\"><div class=\"container\">\n<li>Seniors were&nbsp;<strong>more pessimistic<\/strong>&nbsp;about the situation in their country, with a score of 4.5, well below the overall average (5.2) and that given by all other generations.<\/li>\n<\/div>\n\n<div class=\"container\">\n<li><strong>The gap is narrower<\/strong>&nbsp;when it comes to personal circumstances, although the score is still lower than that given by Europeans as a whole (5.9 vs. 6.1).<\/li>\n<\/div>\n\n<div class=\"container\">\n<li><strong>45 % des s\u00e9niors<\/strong> pour juger que leur situation financi\u00e8re est inf\u00e9rieure \u00e0 celle de la moiti\u00e9 des habitants de leur pays, soit deux fois plus que les 18-49 ans.<\/li>\n<\/div>\n\n<div class=\"container\">\n<li><strong>More than 1 in 2 senior citizens<\/strong>&nbsp;reported a fall in spending power, compared with the average of 4 in 10.<\/li>\n<\/div>\n\n<div class=\"container\">\n<li><strong>Almost all seniors<\/strong>&nbsp;(94%) agreed that prices had increased in recent months, with 1 in 2 believing they had increased significantly.<\/li>\n<\/div>\n\n<div class=\"container\">\n<li><strong>Just over a third of seniors<\/strong>&nbsp;wanted to spend more, a figure well below the average and which significantly differs from the intentions of younger generations.<\/li>\n<\/div>\n\n<div class=\"container\">\n<li><strong>Intentions to save<\/strong>&nbsp;were well below the average (36% vs 56%), and below those of other generations.<\/li>\n<\/div><\/ul>\n<\/div>\n\n<div class=\"container\">\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>MACROECONOMIC CONTEXT: IMPROVEMENT IN THE EURO ZONE After holding up well in 2025 (1.5%), growth in the Eurozone should strengthen in 2026 (+1.6%) according to forecasts from BNP PARIBAS economic research. GDP growth of 1.4% in Germany in 2026 and increased military spending in Europe will help to sustain economic growth. In addition, the buoyancy [&hellip;]<\/p>\n","protected":false},"author":1945,"featured_media":0,"parent":34512,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"t-etude-chapitre.php","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"class_list":["post-34726","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/34726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/users\/1945"}],"replies":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/comments?post=34726"}],"version-history":[{"count":3,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/34726\/revisions"}],"predecessor-version":[{"id":34949,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/34726\/revisions\/34949"}],"up":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/34512"}],"wp:attachment":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/media?parent=34726"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/tags?post=34726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}