Vast majority of Italians intend to reduce their expenditure to pay for energy
Date
9/18/2022 8:41:26 AM
(MENAFN) According to an Ipsos study conducted for the Italian business organization Confesercenti, the clear majority of Italians want to cut down on spending in the upcoming months in order to pay rising energy costs.
Based on the study, 73 percent of Italians indicated they are struggling with the growth in energy costs or are just unable to handle them. 92 percent of respondents stated that they want to reduce spending, starting with meals out, drinks, vacations, and apparel, in order to pay their expenses.
Confesercenti notes that it anticipates a euro2.5 billion decrease in expenditure in the third quarter of this year compared to the same time last year in its report on the survey findings, “the shadow of high bills and inflation extends over Christmas and beyond. The reduction in household purchasing power will translate into a sharp slowdown in consumption.”
“As they find themselves squeezed between the increase in costs for electricity and gas and the slowdown in consumption.” The organization anticipates that corporations, particularly those in the service industry, would suffer along with families.
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