(ANSA) - Rome, October 3 - Italian households' purchasing power was flat in the second quarter of 2017 with respect to the previous three months and down 0.3% compared to the same period last year, ISTAT said Tuesday. The statistics agency said a rise in inflation rates led to the year-on-year drop in spending power. Italian households' propensity to save, the proportion of monthly income that is put aside, dropped to 7.5% in the second quarter of 2017, down 0.2 of a percentage point on the previous three months and 1.5 points on the same period last year, ISTAT said. The agency said this was the lowest level since late 2012.
It said the quarter-on-quarter fall was determined by consumer spending rising more than incomes.
Household purchasing power flat in second quarter
Down 0.3% in year-on-year terms due to higher inflation