Venerdì, 19 Ottobre 2018

'Food expenditure in Italy at 1979 levels'


(ANSA) - Rome, September 25 - Italians are so hard up
because of the economic crisis that they are spending the same
amount on food as they did 33 years ago, consumers' association
Codacons said on Tuesday.
''The fact that only discount supermarkets are holding up
in terms of 2011 turnover means that Italians are in dire
financial straits and are obliged to abandon the brand leaders
of Italian food production that in the past have been a driving
force of the economy in favour of cheaper products,'' said
Codacons in a statement.
''The drop in food consumption began in 2007 and since then
the fall has been unstoppable, bringing consumption to 1979
levels, or what it was 33 years ago''.
Earlier in the day trade association Confcommercio
announced that consumer spending would fall over 3% in 2012, the
sharpest drop since the Italian republic was founded in 1946.
Only the phone, computer and supermarket-discount sectors
would hold up this year, it said.

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