Consumption: Findomestic, inflation causes purchases to drop

(ANSA) – FLORENCE, AUGUST 10 – Political instability and inflation generate a new decline in purchase intentions (-5.9%) of Italians after the advance at the end of June (+ 11.8%). This was noted by the Findomestic Observatory in August, noting fears over price increases (48%) and a possible economic recession (41%), concern for political instability (25%), and growing anxiety about climate change (35%).

“Most Italians – says Claudio Bardazzi, head of the Observatory in a note – continue to feel the greatest increases for fuel and bills (respectively 84% and 79%), but today a substantial part of the sample finds them also in the fresh and packaged food sector (73 and 68% of the answers), as well as in bars and pizzerias (61%) “. Almost 6 out of 10 respondents encountered the phenomenon of ‘shrinkflaction’, i.e. the reduction of weight and quantity of products to keep the price stable: more than half of them decided not to buy the products of the brands that adopt this policy.

Among the various product sectors, purchase intentions are down for homes (-31.5% for properties due to the recent rate hike by the ECB, -6.8% for renovations). The uncertainty about gas prices and supplies for next winter, according to the Observatory, is instead pushing the heat pump market (+ 1.4%). The propensity to buy new cars falls again (-6.2%, -23.9% for the new electrified ones), while used cars limit the damage (-1%). In the technological sector in positive territory there is only the tablet / ebook segment (+ 4.4%), while telephony, PCs and accessories and cameras lose 3.2%, 6.2% and 2.9% respectively . (HANDLE).

Source: Ansa

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