How much does a child cost in the first year of life? Between 7 and 17 thousand euros: the accounts

How much does a child cost in the first year of life?  Between 7 and 17 thousand euros: the accounts

During the first year of life, the cost of a child ranges from 7,065.07 euros up to a maximum of 17,030.33 euros. Compared to 2021, the minimum costs have increased by 5%, the maximum ones by 8%. For milk and baby food, families spend between 5 and 7% more than last year. For a stroller the increase can be up to 27% more, for a cot up to 14%. The cost of diapers has also risen (+10% for the cheapest products): the annual expenditure in 2023 will fluctuate between 547.50 and 1,277.80 euros. The cost of medical visits is also increasing (+4% for the minimum expenditure, +8% for the maximum), for which between 962.5 and 1,781.6 euros will be spent. The Federconsumatori National Observatory took stock of the increases and updated the usual monitoring of the costs of maintaining a child in the first year of life.

The 5% VAT and the bonuses are insufficient

«In recent days, the Ministry of Enterprise and Made in Italy has given a mandate to Mr. Prices to convene a meeting of the new rapid alert Commission on the price increases of childcare products as soon as possible. "It appears evident, in fact, that, despite the reduction of VAT to 5%, the benefits for consumers on the prices of powdered milk, diapers and the like are practically non-existent", affirms the association in a note. Even the bonuses arranged by the government, according to Federconsumatori, would be "still insufficient" and would not represent "a satisfactory certainty for making stable programmes".

Used and online shopping to save

To save money, many families resort to second-hand or online purchases. By buying online, the savings on the minimum amount spent for the maintenance of a child in the first year of life is 29%, while on the maximum amount it is 34%. The savings margins associated with online purchases have decreased compared to 2021, when they stood respectively at 31% for minimum costs and 47% for maximum costs, the study highlights. The second-hand channel, which allows you to save from a minimum of 55% up to a maximum of 62%, is the most convenient for many families.

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