“Inflation of 8.9% takes a toll on Italians, considering the total consumption of a ‘typical’ family, equal to +2,734 euros per year, which rises to +3,551 euros for a family with two children.” This is the comment by Codacons, the Coordination of Associations for the Defense of the Environment and Protection of the Rights of Users and Consumers, on the final inflation data released today by Istat.
“We face an unprecedented economic tsunami, and unfortunately retail price growth is set to worsen in the coming weeks. prices, leading to further increases to the detriment of consumers”, explains the association’s president Carlo Rienzi.
Codacons estimates food price table data rose 11.7% in September. Translated into numbers, it equates to a higher expenditure just for food equal to +652 euros per year for the typical family, +876 euros for a household with two children. “The new government must compete for coverage by immediately ordering the cut of VAT on food and basic necessities, in order to alleviate family spending and contain the disastrous effects of inflation, and provide a ‘pardon’ to 5 million Italians who, due to to the current crisis, have not been able to pay their bills and are at risk of having their supplies cut off”, concludes Rienzi.
Source: IL Tempo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
