The CGT calls for an increase in the Livret A rate from May 1

The document titled "the imperative need for a revision of the rates of remuneration from May 1, 2022" invokes the very high inflation rate and the absence of prospect of a reduction in it "before the end of the year".

Consumer price inflation reached 4,5% year on year in March, INSEE said on Friday, confirming its first estimate published at the end of March.

This unprecedented level since the 1980s should "lead the government to engage in the necessary dialogue with the Governor of the Banque de France in order to recognize the obvious: we are indeed facing a + very significant variation in inflation + which calls for a revaluation of the rates of all regulated savings accounts on May 1, 2022", said the CGT Banques et Assurances in a press release, joined by the consumer association Indecosa-CGT (Information and Defense of salaried consumers - CGT).

The Livret A rate is calculated twice a year by taking the average between, on the one hand, the average inflation rate of the last six months and, on the other hand, the average of the interbank rates, at which the banks are exchange money in the short term.

But the texts offer the possibility of a derogation from May 1 and November 1 "if the Banque de France considers that the variation in inflation or in the money markets is very significant".

The latest increase in the Livret A rate is recent: announced in mid-January, it came into effect on February 1. He brought with him those of the Sustainable and Solidarity Development Booklet (LDDS), also at 1%, and the People's Savings Booklet, at 2,2%.

The previous increase in remuneration for the Livret A dated back to August 2011, when it went from 2 to 2,25%. Its rate has only stagnated or fallen since then, falling in February 2020 to 0,50%, a historic low.