Friday, May 16, 2008
Inflation is 2.5%. The PM says so.
“In France, when you can’t afford a baguette anymore, you know you’re in trouble,” Ms. Renard said one recent evening in her kitchen, as her partner measured powdered milk for their 13-month-old son, Vincent. “The French Revolution started with bread riots.” “The problem is that if your salary rises more slowly than the cost of products you buy on a daily basis, you feel poorer every day.” “When I started working at 23, I earned almost the same wage that I earn now,” said María Salgado, a 37-year-old director of television documentaries living in Madrid. Fourteen years ago, her monthly salary of about 1,200 euros ($1,873), bankrolled a full social life. No longer. “The well-to-do middle class has become the tight middle class,” she said. “I’m surprised we haven’t started a