First came the pandemic with curfews and restrictive measures, then the war started in Ukraine, and meanwhile, inflation continued without slowing down. The successive increase, the successive energy bills, has become an increasingly serious problem for Italian families and companies, which can upset their balance sheets. In fact, bills now represent almost 50% of mandatory spending: in 2023, families will spend an average of more than 1,300 euros per month on housing, electricity and other utilities, which is more than 400 euros per month (+%) compared to 2019. 45, 5) .
These are estimates made by Confesercenti based on an analysis of household expenditures, incomes and savings over the past four years. Other items were slashed by around 210 euros per year for clothing, 384 euros per year for transport, -374 per year for leisure and culture, and 321 euros per year for service accommodation and meals.
Overall, Italian families will spend an average of 2,846 euros per month this year, 286 euros more than last year before the pandemic (2,560 euros). However, a growth driven not by an increase in consumption but purely by energy inflation: bringing monthly family expenditures to real values – that is, adjusted for inflation – this is actually 2,443 euros per month, which we spend 50 times more buying less than in 2019.
According to this analysis, households will have to burn an additional 6.5 billion savings over 2023 to support their consumption levels. In addition, in the first quarter of 2023, the average deposit amount decreased by 11 billion compared to the same period of 2022.
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.
