Inflationary pressure weighs heavily on Italians

In Italy, the escalation of food and energy prices has caused inflationary increased to the highest level since the country joined the Eurozone in 1999.

At the Testaccio food market in Rome, price is becoming the biggest concern of everyone, from sellers to buyers. Mr. Marco – a fruit and vegetable shop owner said that he is struggling to balance the cost and selling price of goods. “We had problems with fertilizers, prices went up and it was hard to find. Plastics for agriculture and greenhouses also increased. Biodegradable bags for sale also increased sharply.”

According to the European Statistics Agency (Eurostat), the inflation rate in Italy in March reached a record high, increasing by 6.8% compared to the same period last year. Food, electricity, fuel and transportation are the sectors that drive prices up sharply.

Ms. Simona Proietti – Fish shop owner said: “I used to pay 9-10 euros for 1 kg of salmon from Scotland or Norway, but now the price has increased to nearly 16 euros. The supplier said, the price is expensive because of demand. The demand is increasing and the farms cannot meet it fully. Besides, the war also increases the price of gasoline, causing the cost of transportation to escalate.”

Although some supportive measures have been implemented by the Italian Government to help cushion the price shock, more and more Italian consumers are becoming more cautious in choosing expensive foods.

Mr. Antonio Pinto – representative of consumer protection organization Confconsumatori said: “In March, sales of fresh fish in supermarkets decreased by 18% compared to the same period last year. Sales of cheese and meat also decreased. , while consumption of pasta, rice and canned goods increased. This shows that as prices rise, consumers are focusing on cheap foods.”

Experts fear that the inflation situation in Italy in particular and Europe in general may become more severe, as governments increase public spending and central banks are not fully prepared. This will force many consumers to tighten their spending even more in the near future.

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