Sabato, 20 Ottobre 2018
ROME

Italians to reduce spending on Christmas and New Year feasts

English
© ANSA

(ANSA)- Rome, December 6 - Spending on foods and drinks for
Christmas and New Year holidays, which are traditionally safe
from spending cuts by consumers, are likely to drop by some 100
million euros, Italy's Federalimentari trade association said
Thursday.
Federalimentari says that consumers are having to tighten
their belts because they need to save and pay for the second
tranche of a new real-estate tax called IMU, implemented as part
of efforts by the government of Mario Monti to get Italy's debt
under control.
According to the trade association, the IMU represents ''an
ulterior, strong drain on spending for 80% of Italian
families''.
Overall consumer spending over the past four years has been
relatively stable, Federalimentari said.
However, spending on food has recorded a cumulative drop of
some 9-10% over the same time period.
In 2012 alone, the drop in spending has been between
2.5-3%, the trade group said.
''The reasons for this phenomenon are for the most part due
to the fact that overall consumption in these years has been
held up by increasing costs for energy and services, especially
tariffs,'' Filippo Ferrua, Federalimentari president said.
In order to make ends meet, families have therefore been
forced to make cuts in their food budgets, Ferrua explained.

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