During the third quarter of 2023, fuel prices returned to particularly high levels and other operating costs continued to rise at a rate higher than general inflation:

• In road freight transport (RFT), commercial diesel rose by +17.6% over the last quarter and other costs rose by +5.6% on an annual basis.
• In road passenger transport (TRV), commercial diesel rose by +16.4% over the last quarter and other costs rose by +7.9% on an annual basis.

Economic growth remains severely hampered by inflation. Inflation is falling compared to 2022, but is still expected to exceed the +5% threshold in most G20 countries in 2023. The very recent increases in bank rates are exacerbating the difficulties in global demand, and trade in goods is also sluggish. Several major countries are at risk of entering periods of recession.

France is expected to see GDP growth of +0.9% in 2023.