+6.4%. Unprocessed foods are on the rise

“A significant deceleration” in inflation in June, says Istat’s quarterly report.

The number speaks of a decline from +7.6% in May to +6.4% in June. Nevertheless, consumer protection groups reiterate that the news, however positive, is not enough for families with children and bemoan the delay in the price reduction compared to prices on the energy market.

According to the institute, inflation continues to be strongly influenced by price dynamics Energy goods, down sharply. Core inflation excluding energy and fresh food slowed further (from +6.0% to +5.6%). The phase of slowing down the price growth trend also continues “Shopping venture“, which is +10.5% in June.

Instead, inflation rises Price increases for unprocessed foods (from +8.8% to +9.4%). On the other hand, annual growth in goods prices (from +9.3% to +7.5%) and, to a lesser extent, in services prices (from +4.6% to +4.5%) slowed.

The stability of the overall index is affected by the opposing dynamics of different components: On the one hand, the price increase for transport services (+1.2%) and for leisure, cultural and personal care services (+1.1%), which is also seasonal, as well as for unprocessed food (+0.8%). ). On the other hand, the decline in both unregulated (-4.5%) and regulated (-0.6%) energy prices. The calculated inflation for 2023 is +5.6% for the overall index and +4.9% for the core component

“In the second quarter of 2023 The impact of inflation is greater on households with lower purchasing power than on households with higher spending levelsi (+9.4% and +7.1% respectively). However, the slowdown in inflation compared to the previous quarter is more pronounced in the first of the two groups.”

consumer protection associations

“The decline is good, but it is not enough. Inflation deceleration is too slow after falling energy costs CIt has lasted since January, ie over 6 months ago, and the repeated interventions by the ECB. An unsatisfactory reduction that leaves a bad taste in the mouth. In short, we face the usual double speed problem: le Firms are immediately willing to raise prices when production costs rise, but much more slowly to lower them when the trend reverses.”

So Massimiliano Dona, President ofNational Consumer Union, commented on the Istat data. “For a couple with two children+6.4% equals one stitch 1834 euros annuallyOf that, 846 will only be used to cover the 11% increase in food and drink prices. For a couple with 1 childis the annual additional expense equal to 1673 euros, 764 to eat and drink. On average, the damage for a family is 1390 euros, for food and soft drinks 620 euros. Preference goes to large families with more than three children, the only ones who still have a hit of more than 2000 euros, more precisely 2068, 1010, just to quench and quench their thirst,” concludes Dona.

Similar reaction from codacons which focuses its attention on transport: “The data, as Istat also points out, are clearly influenced by the evolution of energy goods and for some sectors, such as food and transport, the price lists remain at very high levels.”

The decline in banknotes, especially on the open market, has a significant impact on inflation, but not all industries are benefiting from these positive effects: Food, for example, recorded a still very high annual price increase of +11% in June“, analyzes the codacons.

Added to this is the acceleration of tariffs in the transport sector, which is influenced by seasonal factors and the onset of summer, Consumers are still complaining. In fact, the prices of airline tickets are increasing by +23.5% on annual average, with a peak of +28.9% for domestic flights, while monthly they are even increasing by +10.9%, with a peak of +17%. 8% for domestic routes – notes Codacons – Ferry fares are also picking up again, posting a +6.1% cyclical increase.”

“Finally, geographically, we find that this is the case when we observe the evolution of retail price lists in large cities with more than 150,000 inhabitants Genoa is said to have the highest inflationwith a rate of +8.5%, followed by Florence (+7.6%); Potenza brings up the rear, where prices rose just +3.8% in June.”

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