Inflation, Istat: in October it leaps to 11.8%, the highest since 1984

According to the National Institute of Statistics, the consumer price index for the whole community has reached levels not seen for almost 40 years. Driving the cost of living is not only the increase in energy prices but also those of food, home care and personal care, which have accelerated from +10.9% to +12.6% as has not happened since 1983

the grip ofinflation continues to grip Italy. According to Istat, in October the increase in prices will rise to 11.8% on an annual basis, reaching levels previously observed only in 1984. New flare for the shopping trolley, which is also at the highest for almost 40 years in the wake of rising food prices.

The data

deepening

Inflation, ECB: “Growth between rich and poor is widening”

In October, the National Institute of Statistics estimates that the consumer price index for the whole community (Nic), calculated gross of tobacco, recorded an increase of 3.4% on a monthly basis and of 11. 8% on an annual basis from the +8.9% achieved in September. The data results slightly lower than previous forecasts formulated by the institution for the period in question, which photographed an increase of 11.9%, but in any case it reaches levels recorded only in March 1984, confirming that the inflationary pressure on households and businesses is far from abating. “It is mostly energy goods that explain the phenomenon”, explains Istat, according to which the growth of these products went from +44.5% a month ago to +71.1%. For the whole year , the cost of living acquired is instead equal to +8% with reference to the Nic and +3.7% considering only the basic component (without food and energy).

Shopping cart on fire

deepening

Heating costs are rising. Price increases for wood, pellets and bioethanol

In addition to energy goods, it is above all the so-called ‘shopping trolley’ that is running. As Istat explains, it is in fact necessary to “go back to June 1983” to find an annual growth in prices higher than that estimated for the previous month. According to the institute, spending on food products intended for home and personal care accelerated from +10.9% to +12.6% while high-frequency purchases further appreciated from +8 .4% to +8.9%.

Economy

Inflation, chasing discounts: how supermarket shopping is changing

Merchants testify to a more prudent and targeted choice by customers. Consumers are looking for offers and prefer private label brands to those of big brands. Boom of products close to expiry, which are sold at reduced prices

Inflation the way consumers shop is changing. Discounts, offers, products are preferred half price because they are close to expiration and the distributor’s brands. These are the effects of the general price increases, starting from the increase in electricity and gas bills which have led to a rise in costs also for foods and basic necessities

Bread from the day before, bought at half price. The vegetables and fruit a bit old, in plain sight offer. They are snapshots from Italy with double-digit inflation. A greengrocer explained to Ansa that we work less and buy day by day for avoid waste. “I myself used to buy detergents three by three, now I’m waiting for a bottle to finish to buy it again”, said Daniela who fears it will be difficult for traders to recover between Covid and the crisis

The baker Alessio explains how customer behavior has changed: “There are some less customerbut above all one more targeted spending necessary: bread and a few pieces of pizza. Now we sell very little pastries, we do without them”

Inflation, Istat: in October it leaps to 11.8%, the highest since 1984