Changes in road transport costs: 

• Over the past 12 months, the cost of diesel has fallen, but it remains higher than the level seen before the 2022 crisis. 
• Inflation in other cost areas persists, and in September, the average annual inflation rate for the operating costs of commercial vehicles, excluding fuel, remained higher than overall inflation, at around +5.5% for medium-sized goods vehicles and +5.8% for school buses.

The economic downturn continues despite significant progress:

• Global GDP growth remains steady and is expected to stagnate at +3.2% year-on-year. For the time being, the sharp slowdown in inflation is not causing an acceleration in demand.
• For France, the fall in inflation to +1.2% at the end of the third quarter of 2024 is nothing short of spectacular, but a wait-and-see attitude prevails among all economic players. For the time being, households continue to favour saving, and the decline in business investment is continuing.