Leonardo banner

Confindustria: "The price of gas falls but inflation remains high"

If inflation fell instantly, thanks to this drop, the economic scenario could be considered normalized

© Agenzia Nova - Reproduction reserved

The sharp drop in gas prices in Europe since the end of 2022 is extremely positive news for our economy and for all European ones. If inflation fell instantly, thanks to this drop, the economic scenario could be considered normalized. This is what emerges from the forecast report “The Italian economy between rate hikes and high inflation” created by the Confindustria Study Centre.

One of the main delays - notes the Confindustria Study Center -, although variable in its length due to the continuous evolution of economic systems, is precisely that relating to the transmission of changes in international energy prices to consumer prices. Gas, which has fallen to around 50 euros/mWh, from over 330 at the daily peak in 2022, has certainly facilitated the decline in inflation. But we are only at the beginning of consumer price moderation, both in Italy and in the Eurozone, and the process will take time.

Italian household consumption will remain almost stationary on average in 2023 (+0,2 per cent), below the inherited drag thanks to the good dynamics in the central part of 2022. Furthermore, this year the highest rates for home loans and consumer credit will play against spending on goods and services. Only later, in the wake of the slow decline in inflation and, therefore, a recovery in real income, will consumption grow again, from the second half of 2023 and, with more momentum, in 2024. Even total investments - specifies the Confindustria Study Center - they are expected to grow slightly on average in 2023. The reasons are the withdrawal of tax breaks in the construction sector and the impact of more stringent financing conditions. The annual figure hides, as for consumption, a very weak start in 2023 and a subsequent recovery, which will then continue more quickly in 2024. But the pace will remain far below the great vivacity recorded in 2022, linked precisely to the investment boom in construction.

Read also other news on Nova News
Follow us on the social channels of Nova News on Facebook, Twitter, LinkedIn, Instagram, Telegram

© Agenzia Nova - Reproduction reserved


Latest news

Administrative elections in Spain: in Madrid and Valencia popular advantage

In the capital, the People's Party does not reach an absolute majority

Giro d'Italia: Cavendish wins in Rome, Roglic triumphs in pink. Present Mattarella and Tajani

Closing in the Capital for the 162nd edition of the race. The President of the Republic awarded the cyclists

Quartapelle (Pd): "The Iranian embassy in Rome has mounted a camera on a gallows"

"It is a clear intimidation against those who demonstrate outside the embassy," wrote the Pd senator

Erdogan is confirmed as president of Turkey: he wins the runoff with 52 percent of the votes

This result marks the beginning of the third term of the Turkish leader, who will remain at the helm of the country until 2028

Republican Senator Graham Meets Zelensky: “The Russians Dead? Money well spent”

The spokeswoman for the Russian Foreign Ministry responded by recalling US investments in Nazi Germany

Other news

Salvini: "The commissioners are not chosen on the basis of political sympathies"

The Minister of Infrastructure spoke at the Trento Economy Festival: "My goal is to spend all the Pnrr money well"

A phosphorescent patch has colored the Grand Canal of Venice

Samples of the substance have been taken by the Fire Department and will soon be analyzed

Ballots in Lazio: we vote to elect the new mayor of four municipalities

Anagni, in the province of Frosinone, Aprilia in the province of Latina, Velletri and Rocca di Papa for the metropolitan city of Rome are voting

Tajani: "Raising rates beyond what is necessary is not good for the health of European countries"

The Foreign Minister spoke at the Trento Festival of Economics: "Here, inflation is caused by the war and its impact on energy prices"

Türkiye to vote: even a little lamb appears at the polling station - video

After the great turnout success in the first round (almost 90 percent), a large turnout is also expected in the second round