National and international flights, holiday packages, ice cream and hotels: All tourism-related categories stand out in the list of price increases in May. This is the real pain of June 2, as condemned by the National Consumers Union (UNC), which detailed the Istat data released yesterday by ranking the highest prices in May.
As UNc president Massimiliano Dona underlined, the increases are mainly related to holiday-related spending: “Very worrying increases in expectations for the upcoming summer vacation. In just one month, hotels went up to the pool by 5.8%. In the gym or a bathing facility, record economic growth. It’s already 9.8% more expensive than April, which is a hot summer on the price front”.
Holidays, price rank increases
In the top ten items related to holidays, domestic flights take the first place with 43.2% compared to May 2022. Silver medal with international flights with 36.6%. On the bottom rung of the podium is Gelato, rising 22%. Domestic tourist packages took the fourth place with an increase of 19.2%, while international packages containing much more than +2.4% were excluded from the ranking. In the fifth place are hotels, motels, hostels, etc., for which you have to pay 15.2% more than last year. It is followed by amusement parks and sports facilities with 10.8%, Fast food with 8.4%, holiday villages and camping areas with 8.2%, restaurants, bars and dance clubs with 5.7%. Swimming pools, gyms, baths and discos close the ranking with 4.9%. Rail passenger transport (+3.8%) is out of the ranking.
Monthly data: Increases for swimming pools and businesses
But monthly increases are more cause for concern. The absolute top ten for all goods and services are swimming pools, gyms, bathing facilities and discos, which paid 9.8% more in May than in April. Car rental, on the other hand, ranks second with prices increasing by 6.2%. Bronze medal for hotels, motels and hostels, increasing 5.8% in just one month. The situation is not going well for those who want to read a fiction book, for which they will have to pay 5.1% more on vacation. Fresh fruit ranks first among food products with +4.9%.
In sixth place is infant formula, whose price increased by 3.3% in April, rather than falling, despite the birth rate and expensive baby alert. This was followed by Frozen Seafood, Margarine and Potatoes (+3.1% for 3). It closes the ranking with Natural gas and city gas (+2.9%).
Annual price increases: sugar +52.6%
Among the top ten annual increases in food products, Sugar ranked first with an increase of 52.6% in May 2022. Rice ranks 2nd with +37.1%. Preserved milk (+28.7%) on the bottom rung of the podium. This was followed by olive oil (+24.6%), potatoes (+22.2%) and ice cream (+22%). In seventh place is baby food, which continues silently and uninterruptedly, increasing by 21.5% year-on-year. Margarine (+26.4%), Yogurt (+19.5%) and finally Soft Drinks (+18.5%) are closing.
Along with products for children, pasta, another product under the supervision of the ministry, increased by 14% in May 2022 and by 0.1% in April 2023 (only the item included in the provisional Istat data, which includes pasta preparations). “In short,” concludes Dona – although these ridiculous prices no longer have any justification, pasta still isn’t turning the tide.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
