Rome, 4 December 2021 – This year for the Christmas presents 2021 they will be spent on per capita terms 158 euros respect to 164 euros last year, -8% compared to 2019 and over 36% less than in 2009, overall 6.9 billion compared to 7.4 billion last year, with inflation and higher bill prices that risk to further reduce the thirteenth share allocated to these expenses. This is what emerges from an analysis by Confcommercio. In total “for the month of December it is estimated a value of approximately 110 billion euros in consumer spending (including rents, utilities, services), a value about 10 billion less than what was spent in 2019 “, explains Confcommercio. Average expenditure per family during the month stands at 1,645 euros, 0.5% more than last year, but still much lower than in 2019 (-7.5%), adds Confcommercio, underlining that the thirteenth overall destined for consumption is growing: 32 , 6 billion in 2021 against 29.7 billion in 2020.
“The growth in consumption at Christmas risks being held back by pandemic fears, inflation and the costs of forced consumption. To revive confidence, what is expected must be accelerated tax cut, starting with Irpef and contribution charges to be paid by companies “, commented the president of Confcommercio, Carlo Sangalli.
In November, “the climate of confidence of families”, while settling at historically high levels, “fell back for the second consecutive month”, notes the association. “This situation, if confirmed in the coming months, is likely to have repercussions in the early part of 2022 as well as compressing, albeit marginally, the expenses of December and for Christmas gifts “, warns the association, explaining that” the deterioration is largely correlated to the re-emergence of inflation which, for the unexpected part, ie the excess 1.5% -2%, could compress the purchasing power of households, reverberating mainly in a contraction in purchases of marketable goods and services “.
In fact, the resumption of inflation “it is affecting mainly and at least for now, those goods and services that families cannot give up, that is, the so-called forced consumption”. Over the course of twelve months, “we went from a context of deflation to a change in consumer prices of more than 3% (3.8% in November 2021)”, underlines Confcommercio.
The thirteenth net of employees and retirees will amount to 43.8 billion in 2021 but the share saved after the payment of fees and taxes remains high with 12.7%, down compared to the record percentage of 2020 (15.6%) but growing on the 2019 (8%). The 2020 figure is linked to closures and family concerns about the pandemic but also in 2021 the behavior of families should be based on prudence due to the protracted emergency. Removed from the thirteenth savings and the additional cost of bills (1.97 billion once public support for employees and retirees has been deducted) and considering that even the self-employed will allocate a share of income to Christmas purchases, the average consumption expenditure of December resulting from only the thirteenth, actual and theoretical, according to the Confcommercio study will be 1,645 euros, up by 0.5% compared to 2020, but still 7.5% lower than in 2019 (compared to two years ago there would still be 134 euro at constant prices per family).
© All rights reserved