Italian purchasing power down 3.7% in 4th quarter- ISTAT – English

(ANSA) – ROME, APR 5 – Italian households’ purchasing power
dropped by 3.7% in the fourth quarter of 2022 with respect to
the previous three months, with a sharp rise in prices
outweighing an 0.8% increase on gross disposable income, ISTAT
said on Wednesday.
   
The national statistics agency said the fact that consumer
spending held up, increasing by 3% in nominal terms, was down to
the fact that people were saving less.
   
It said the saving rate of consumer households was 5.3% in the
October-December period, two percentage points lower than in the
previous quarter. (ANSA).