Home Economy Household purchasing power in Italy increases in the first quarter of 2024

Household purchasing power in Italy increases in the first quarter of 2024

The purchasing power of Italian households increased by 3.3% in the first quarter of 2024, while the savings propensity rose to 9.5%.

Household purchasing power increases in the first quarter of 2024
Household purchasing power increases in the first quarter of 2024
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A 3.3% increase compared to the previous quarter

According to ISTAT, the purchasing power of Italian households grew by 3.3% in the first quarter of 2024 compared to the previous quarter. However, this increase was slightly dampened by the rise in consumer prices. The statistics institute provided important details on the economic trends of Italian households.

Savings propensity continues to rise

In addition to the increase in purchasing power, ISTAT highlighted a further rise in the savings propensity of households. After reaching a historic low in the last quarter of 2022, the savings propensity increased by 2.6% in the first three months of 2024 compared to the previous quarter, reaching 9.5%. This data underscores greater caution by households in managing their finances.

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