Inflation and high cost of living “eat” household savings: 20 billion withdrawn in 2022

The survival of savings is no longer certain

The survival of savings in today’s times is no longer a guarantee and this is demonstrated by the data on the pockets of Italians, lightened by the waves of the continuous flare-ups in energy prices and by a generalized inflation that is increasingly on the rise. If the current accounts of Italians have never stopped growing since 2017, the data for the last quarter of 2022 in fact sound like a social alarm, demonstrating that the conditions of families could begin to be compromised in the immediate future. Inflation and the cost of living have thus reversed the saving trend of Italians: after four years of constant increases, in 2022 the total balance of household current accounts in our country decreased by almost 20 billion euros. From August to November there was, in fact, a drop of 18 billion from 1,177 billion to 1,159 billion, with a reduction of 1.5%. Already in June, compared to May, there was an initial decrease of 10 billion. As the analysis carried out by Fabi (Federation of Autonomous Italian Bankers) explains, the conspicuous trend reversal in the accumulation capacity of current account holders comes after a long period of increase in bank deposit balances: at the end of 2017 the total amount was 967 billion, at the end of 2018 at 990 billion (+23 billion), at the end of 2019 at 1,044 billion (+54 billion), at the end of 2020 at 1,110 billion (+66 billion) and at the end of 2021 at 1,144 billion (+34 billion).

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