Rome, January 4 – Italian deflation in 2016 was due to a record drop in consumer spending last year, consumer group Codacons said after ISTAT registered the first year in deflation since 1959 with consumer prices down 0.1%. “The deflation registered in 2016 takes Italy back 60 years, determining recessive effects for the country’s whole economy,” Codacons said in a statement after the ISTAT figures were published. “The brake in retail prices in 2016 is the fruit of a record fall in consumer spending registered in Italy in the last few years,” said Codacons President Carlo Rienzi, commenting on the data. Rienzi added that “overall, in the last eight years, Italians’ consumer spending fell by no less than 80 billion euros”. He said that was the equivalent of every Italian household reducing their purchasing by 3,333 euros, from the 2007-2008 financial crisis to today

Sezioni:
• Rassegna Stampa

Aree Tematiche:
• ECONOMIA & FINANZA