According to Codacons, an autumn sting of at least 940 euros is being prepared for family accounts. With retail prices which in September, according to the definitive data released today by Istat, recorded a jump to + 2.5% reaching the highest levels since November 2012. The president of Codacons, Carlo Rienzi, had already given these predictions months ago. But this increase in expenditure on an annual basis focuses in particular on transport spending. A family with two children has to charge 378 euros a year more for travel. The flare-up in prices threatens to slow down the country’s economic recovery, despite the rosy forecasts of the Fitch agency (+ 5.7%).
Codacons announces a 940 euro sting on families but here’s where it comes from
“The autumn sting is destined to worsen”, warns Rienzi. The increases in the electricity and gas bills that started in October and the unbridled run of fuel at the pump will have a very strong impact on inflation. Retail prices will continue to rise in many industries, including food. The president of the Codacons calls for a cut in VAT and excise duties in order to contain the growth in prices and safeguard the pockets of families. However, they would like to understand the reasons why the economic forecasts announced a month ago are no longer valid. Here they are explained by the editorial staff Actuality by ProiezionidiBorsa.
The increase in pump prices comes from the energy crisis
Codacons announces a 940 euro sting on families but here’s where it comes from. The oil price and the price of natural gas reached record levels with the latter even doubling. Faced with such a rapid rise in commodity prices, inflation rallies. The costs of many products skyrocket, there is an erosion of the purchasing power of consumers. What we find on the shelf at 8 today will cost 9 tomorrow. Europe will be precisely the geographic area that will suffer the longest from inflation. So before they secured a V-shaped shot, now hopefully it will be a U-shaped shot.
Because certain products are in short supply
If we want to buy a new phone, there must be a chain that works with the necessary manpower at each stage of production. If the microchip, because people leave their jobs and industrial areas to escape the pandemic, the mechanism jams. Similarly, if vaccines are lacking in certain countries, people flee to the mountains and therefore there is no job offer, no one mounts chips. For this reason it is more difficult to restart global production. Just today Apple announced it will produce fewer iPhones and Toyota will come out with fewer cars.
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