Income growing, but purchasing power further reduced by inflation. And ability to save at historic lows.
It is Istat’s snapshot of family budgets. According to the Institute, in 2023 the disposable income of families it increased by 4.7%, which means almost 59 billion more. But net of inflation their purchasing power decreased by 0.5%. A blow that adds up to -1.8% in 2022, when prices hurt even more.
Final consumption expenditure rose by 6.5%, almost 75 billion more.
And so, given that expenses have risen more than incomes, in the end in 2023 there was “a further reduction in the share of income allocated to savings. The propensity to save of families went from 7.8% in 2022 to 6.3% in 2023, reaching the lowest level since 1995″, beginning of the historical series.
In the publication ‘National economic accounts by institutional sector’ we read that the household investment rate it rises to 9.0% (from 9.2% in 2022). The corporate profit rate drops to 44.8% (from 45.4% in 2022), despite the growth in added value of 6.2%.
Absolute poverty, towards a historical record, concerns 2 million 234 thousand families: it is now an emergency
Among the Istat data, it emerges that in 2023 Current taxes paid by Italian families increased by 24.6 billion euros (+10.7% compared to 2022) due to the growth of Irpef (+10.2%) and withholdings on capital income and managed savings (+23.0%). “The balance of redistributive interventions in 2023 – writes the statistical institute – took 118.8 billion euros away from families”, 16.5 more than in 2022. For businesses, taxes on production mark an increase of 2, 2 billion euros (+7.5%).
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– 2024-05-04 22:28:41
