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The compulsory expenses erode consumption

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The compulsory expenses erode consumption

L‘inflation it will rise to 7% in 2022. And 43% of our wallet is already needed to pay for compulsory expenses, 6.3% more from 1995 to today. One figure stands out, in particular: in 2022 more than 1,850 euros per capita are needed to pay electricity, gas and fuel.

This is what emerges from the study of the Studies Office di Confcommercio, who carried out a research on the compulsory expenses of the Italians. There is a renewed desire for normality, which can be seen from the recovery of expenditure in some sectors, mainly the turismo and the area of ​​conviviality and free time. However, other sectors are struggling, such as theautomotive and clothing. A picture that risks a further slowdown after the summer.

If we consider that the average per capita consumption per year is around 19 thousand euros, the compulsory expenses represent 8,154 euros, 152 euros more than last year. Among these expenses, the main share is represented by the housing item (4,713 euros), but the largest contribution to the overall increase comes from the aggregate energy, gas and fuels (1,854 euros) which, on average in 2022, reaches an incidence on total consumption of 9.7%, a value never recorded before; this will have the effect of squeezing spending on many free spending areas and slowing the economy.

On the other hand, as regards the compulsory expenses related to mobility – insurance, fuel and maintenance of means of transport – after the decisive reduction recorded in 2020, for 2022 the return to pre-pandemic consumption levels is estimated (1,899 euros per inhabitant at the prices of 2022).

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The research also gives us a key to understanding and brings us back to the issue of (missed) liberalizations. «The trend, although emphasized in the last two years, is long-term and has deep roots. The prices of many of the expenses that converge in the aggregate of the obliged are often formed in regulated regimes and, in any case, in poorly liberalized markets ».

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