Red Sea crisis, Bank of Italy: “Minimal impact on inflation, maximum +0.3%”
And Bank of Italy reassurances are arriving on the effects of the crisis Red Sea: “It had little impact on inflation.” This is the clear message sent by Palazzo Koch and contained in the economic bulletin. Confirmed 2024 growth estimate at 0.6%. Il high prices remain at 1.3%. “The risks that the recent increase in maritime transport costs translate into strong inflationary pressures in Europe appear limited at the moment”, states the Bank of Italy, “even – continues the bulletin and reported by Il Sole 24 Ore – in one particularly pessimistic scenarioin which maritime freight rates stabilized at levels higher than the peak reached in April, we would witness a rise in inflation to consumption in the euro area equal to at most 0.3 percentage points“.
In comparison with the same period of the previous year, the contraction – continues Il Sole – remains more significant for them businesses with fewer than 20 employees (-9.4 percent, compared to -3.3 for larger ones) and worsened in manufacturing. THE financing granted to families they are decreased at a substantially stable pace both over the three months calculated on an annual basis (-0.9 percent) and over the twelve months (-1.3); the mortgages for the purchase of homes remained unchanged compared to same period of 2023.