Inflation gallops to + 3.8%. An annual salary is up in smoke

L’inflation back to gallop in Italy and Europe, reaching levels not seen since 2008. In November, in the beautiful country, she climbed the 3.8% according to the latest Istat estimates.

Inflation: energy and transport weigh

To weigh the prices of energy, food and transport services. The prices of food goods, of those for home and personal care (from + 1.0% to + 1.4%) and of products with a high frequency of purchase (from + 3.1% to + 3.8%).

Inflation almost burns a salary

Overall, the November increases – according to estimates by theFederconsumatori National Observatory – they will weigh on every family for +1,132.40 euros nodded. “The aspects that worry most are the sharp increases in primary goods such as electricity, gas, fuel and food: according to the estimates of our Observatory, the increases due to these items amount to over € 551.65 per year. A similar surge in prices will only have a negative impact on Christmas consumption, for which a slowdown is expected, as well as on the conditions of families already severely compromised by the crisis caused by the pandemic ”.

Inflation in Europe

Annual inflation in the euro area is forecast at 4.9% in November, up from 4.1% in October, according to Eurostat’s flash estimate. The rise in consumer prices is above the consensus, the average of analysts’ expectations. In Germany it is estimated at 6%, in Italy at 4%. Core inflation, net of the more volatile components (food, energy, alcohol and tobacco), rose to 2.6% in November, from 2% in October.

According to observers, German inflation is expected to fall again as early as next month and the decline will continue in 2022 until reaching around 2% (for some economists slightly above the 2% threshold, for others slightly below), thus approaching the mid-term objective of the ECB.

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