Inflation, because for the poor it is 12% and for those who can spend 7% – Corriere.it

In 2022, the impact of inflation was stronger for households with lower spending capacity, reaching +12.1%, while for those with higher spending capacity it stood at +7.2%. This is what emerges from the Istat data. In December, according to the institute’s preliminary estimates, the national consumer price index for the entire community (NIC), gross of tobacco, it is expected to rise 0.3% month-on-month and 11.6% year-over-year (from +11.8% in the previous month). On average, consumer prices grew by 8.1% in 2022 (+1.9% in 2021), recording the largest increase since 1985 (when it was +9.2%). The acquired inflation for 2023 (i.e. the average growth that would occur in the year if prices remained stable throughout 2023) is equal to +5.1%.

Difference between wealthy and poor families

The main cause of this marked growth is the increase in the prices of energy goods. Last year their average surge was 0.9%, compared to + 14.1% in 2021, as reported by the concrete data of Istat. Increases which, as a consequence, dragged along the prices of services in 2022, even if their acceleration is more limited. Goods have a greater impact on the expenditure of less well-off families, while services have more weight on the budget of the well-off ones. For this reason, even if the growth of inflation affects all citizens, it is wider for families for families in the first group (for which the increase is on average 9.7% per year, going from +2.4% in 2021 to +12.1% in 2022) compared to those of the fifth group (which records an average acceleration of 5.6% per year, going from +1.6% in 2021 to +7.2%, of 2022). The differential between first and fifth class, therefore, stands at 4.9% compared to 2021.

The trend in the prices of goods and services

The detailed analysis by Istat shows how families with less spending power experienced greater difficulties at the beginning of the year rather than at the end: inflation, from +4.7% in the last quarter of 2021, grew to +8.3% in the first quarter of last year, to then rise again to +9.8% in the second and +11.6% in the third, up to +18.4% in the fourth. Strong acceleration also for families with greater spending power, albeit with lower values: in the first quarter it recorded a +4.9% (from +3.1% in the last quarter of 2021) and then an increase that brings the value up to +9.9% in the last three months of 2022. These data reflect the dynamics of the prices of goods and services. As regards the first sector, the average growth trend in 2022 was +17.2% for less well-off families, much higher than the +3.3% of the previous year; while for the well-to-do it was +9.8% (compared to +2.3% in 2021). Even in the area of ​​services, the average increased significantly in 2022 compared to the previous year: for families in the first group from +0.7% in 2021 to +2.3% last year and for families in the fifth group from +0.9% in 2021 to +3.7% in 2022.