The bank account is now subject to numerous losses. Let’s find out those recorded in November and what are the prospects for the future
The Bank account it’s a pretty valuable tool for today’s population, but sometimes deposit your own money can play tricks. Of course, they don’t have anything to do with it banks and in this case not even the scams.
The sworn enemy of account holders is theinflation that in November 2021 it rose to 3.7% year-on-year, an all-time high since 2012. Numbers that once would not have alarmed that much. But now the scenario is different. The repercussions are quite deleterious.
Bank account: the monstrous losses recorded by citizens in November 2021
Inflation is in fact taking place at zero rate. Translated, it means that the bank account does not grow since the interests are zero. At the same time, the loss of purchasing power continues unabated.
Going into the specifics of the matter, in November 2020 we had 1,711 billion euros in our bank account. Money that increased over 100 billion to 1.814 billion in the past month. But on an annual basis, the money deposited last year lost 63.3 billion euros in purchasing power, against interest accrued for a few billion.
By virtue of this, the balance is extremely negative. At best it is -60 billion euros. In practice, it is like every Italian citizen squandered 1,000 euros every year. On the other hand, the effects of inflation are precisely these. It is never perceived immediately, it always has medium and long-term effects. In fact it is equivalent to a maxi-tax.
An already rather complicated situation on which some voices have also been weighing for some time that could have strong repercussions on family budgets. This is the case of electricity which in November marked 30.7%.
So, one family with medium-low consumption that they focus on alimony, bills, home, clothing and some other ancillary expense is likely to suffer a decidedly high inflation.
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This trend should stop in the middle of 2022. However, we will have to live with the low rise in interest rates. In light of this scenario, it is very unlikely that banks will decide to raise them.
However, some families may decide to shift their savings to stocks and bonds in due course. At that point, the banks would be forced to raise interest on the customers to keep their customers deposit accounts.
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