In Q1 2022, household gross disposable income (GDI) decreased (–0.5% after +1.9% in the previous quarter), mainly as an automatic reaction to the payment of the “inflation allowance” at the end of 2021. In addition, given the acceleration in consumer prices, the purchasing power of GDI per consumption unit declined sharply (–1.9%). In Q2, household GDI is expected to pick up, boosted by the dynamism of payroll and especially wages, despite the accompanying decrease in social benefits paid for short-time working and sick leave....