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Cambridge Econometrics 3 Fossil fuel prices and inflation in France Energy prices and inflation in France This report The world is experiencing a surge in the cost of living and explores the role corresponding inflation levels, which can be mostly attributed to supply- of energy prices side factors. [...] Wind power and solar PV are the main contributors to the recent growth of renewables in France and in the first five months of 2022 accounted for 8.1% and 3.4% of electricity production respectively. [...] The average monthly change of gas prices and ‘fuels and lubricants for transport’ prices (95% of which is petrol and diesel) is close to double that of the electricity price in the period 1995-2021. [...] Based on energy price inflation and wage growth in France, we estimate that the share of energy in total living expenditure has risen from 4.6% in 2020 to 6.1% in 2022 for households in the middle 20% of the income distribution. [...] France has The French government has introduced a number of measures to tackle introduced the rising cost of energy for households and businesses in response to measures to the recent increases in fossil fuel prices, most notably price caps on address the retail gas and electricity prices.