CIt is now clear that it will be a “hot” autumn, not only for temperatures, but for the domestic economy. The cost of living, with all the various increases in the various expenditure items, is becoming increasingly burdensome for families. To analyze the main items of family spending to understand which could increase further in the coming months, Facile.it and Consumerismo Non profit took care of it.
Cost of living: rising expense items
The The picture that emerged is not encouraging: mortgages, bills, petrol, car insurance, shopping cart, fruit and vegetables, transport. There isn’t a single item that hasn’t received an increase. But the bad news is that some of these will continue to increase.
Electricity and gas
Looking at the tariffs in force in August 2023, the price seems low overall; -43% for electricity and -26.8% for gas. But this is an illusion due to the extraordinary values achieved twelve months ago.
Unfortunately, in fact, bills today are still high, decidedly higher than those dating back to before the outbreak of the pandemic and war. The prices, however, they could rise further in this last quarter of 2023when energy consumption increases. Last month the gas tariff in the protected market increased by 2.3%. Not a good sign ahead of the coldest months of the year.
Autumn will be a period of increases in various spending items (Getty)
The shopping cart
The “shopping cart” it is the voice of the largest increases in the last two quarters, for a combination of reasons ranging from the climate crisis to inflation, which is making itself felt across all supply chains.
The products that have undergone the most increases in 2023 among the primary and indispensable goods for families there is sugar, olive oil, potatoes, tomatoes, rice, preserved milk, baby food and packaged bread.
According to Non-Profit Consumerism, to fill the cart with essential goods you will need to spend around 480 euros per monthequal to 5,760 euros per year, with an increase of over 1,100 euros compared to 2022.
Fruit and vegetables
Fruit and vegetables deserve a separate discussion, the prices of which are constantly increasing, with double-digit increases linked to multiple factors and in particular to climate inflation. And, in fact, looking at just the first five months of 2023, it emerged that Italians are increasingly giving up fruit and vegetables due to the increases which are perceived almost instantly every time you go shopping.
On average, fruit and vegetables have undergone increases of 20%, which means that Italians will have to take into account an increase of around 8 euros per month (on an average spend of 40 euros per week), for a total of 96 euros more per year.
Petrol and diesel
To weigh on the pockets of motorists and motorcyclists there is the fuel chapter. If in July 2023 Italians were partially saved, with prices increasing, but still lower than last year, the real blow came in August and, above all, in September. Looking at the average price recorded at the pump in the week from 18 to 24 September, it emerges that to fill up, on average, it cost 21% more than the previous year for a petrol car, 10% more for a diesel.
Car and motorbike insurance
In the last year the price of car and motorcycle insurance has increased. In August 2023, to insure a four-wheel vehicle in Italy, on average, 591.10 euros were needed, i.e. 26% more than in 2022, when the average premium was 469.10 euros. It went even worse for those who travel on two wheels; in August 2023 the average price quoted online for a motorcycle policy reached 502.07 euros, i.e. 148 euros more than in the same month of 2022 (+41%).
The impact of mortgages on the cost of living
Very painful chapter: the mortgage installments they are one of the expenditure items that has grown the most in the last year. If those who have already taken out a fixed rate loan before the increase in indices can rest assured, the same cannot be said for those with a variable mortgage or those who intend to buy a house in the next few months. According to the analysis by Facile.it, an average variable rate loan signed at the beginning of last year, saw the installment increase from 515 euros in September 2022 to 740 euros in September 2023, with an increase of 225 euros (+44%). The good news is that the increases may be nearing the end, with the peak expected by December. From then on the indices should stabilize and then, very gradually, begin to fall again. It will be a slow descent, but still a descent.
Transport and tourism
Traveling and holidaying in Italy has become more difficult economically given that, as already highlighted in “Cara Italia” report for the summer period, all the upward trends are confirmed in autumn too. Due to the increase in inflation, the cost of fuel and energy materials, the entire sector has adjusted prices, reaching an average increase of 9.4%. Simulating a weekend for two in an Italian city of art can cost up to 700 euros.
In particular, for a weekend in Rome, Florence, Venice, Milan or Turin, if we add accommodation (B&B), travel (high-speed train) and food (lunch and dinner in a tavern), the cost is around 370 euros per person. person. With an increase of up to 25% compared to the same period last year, especially due to increases in the cost of accommodation and catering.
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