Italian household income rose 2.6% in
the first quarter of this year on the previous quarter but
purchasing power only rose by 0.3% because of the cost of living
crisis, ISTAT said Tuesday.
Italy's annual inflation rate rose to
8% in June, the highest level since it was at 8.2% in January
1986, according to preliminary data released by ISTAT on Friday.
The annual inflation rate was 6.8% in May.
The national statistics agency said energy was the driver of the
soaring prices, rising by 48.7% in year-on-year terms in June,
up from 42.6% in May.
It said its trolley index of frequently bought items such as
food and household goods was up 8.6% in year-on-year terms,
again the highest level since January 1986.
In the first quarter of this year, ISTAT said, the propensity of
families to save was 12.6%, 1.1 percentage points up on the
previous quarter.
Household spending was up 1.4%, the stats agency said.
But disposable income was just 2.6% up.
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