GDP continues to grow: +0.5 per cent in the third quarter. Stable (but at record levels) inflation: +11.8

The GDP continues to grow. Istat confirms it today, in its study on the third quarter of 2022, according to which the Italian gross domestic product increased by 0.5 percent compared to the previous three months and by 2.6 percent compared to the same period of 2021. The change acquired for 2022 is equal to +3.9 percent. “All the main aggregates of domestic demand are on the rise, with growth of 1.8 percent in national final consumption and 0.8 percent in gross fixed capital formation. Imports and exports increased by 4, respectively .2 per cent and 0.1 per cent”, the statistical institute reads in the press release.

Istat also explains that national demand contributed 1.6 percentage points to GDP growth, while “negative economic trends were recorded in the added value of agriculture and industry, which decreased respectively by 1.4 percent and 0, 9 percent”. At the same time, the services sector recorded an increase of 0.9 percent, “above all due to the contribution of commerce, transport, accommodation and catering, while agriculture, industry in the strict sense and construction decreased”.

Inflation growth stops at least for this month: the figure communicated by Istat reaches 11.8 percent – stable compared to the month of October when, however, there was a strong acceleration. An adjustment which, albeit positive, keeps inflation at levels not seen since March 1984 (+11.9 per cent). As for the so-called “shopping cart”, the prices of food, home and personal care products rose slightly by 12.6 and 12.8 per cent. According to estimates, however, those relating to frequently purchased products decreased (from +8.9 to +8.8 per cent). According to the trends recorded, concludes Istat, “if the ongoing drop in the wholesale prices of gas and other raw materials continues in the coming months, the inflation fire, which has characterized the current year so far, could start to retreat”.