Italian purchasing power up 2.3%

(ANSA) - Rome, June 30 - Italian households' purchasing power increased by 1.1% in the first quarter of 2016 with respect to the previous three months and by 2.3% compared to the same period last year, Istat said Thursday. The national statistics agency said this was the biggest year-on-year rise since the second quarter of 2007. It said the period of low and negative inflation that Italy has recently was a big factor.
    Italy's deficit-to-GDP ratio was 4.7% in the first quarter of 2016, down 0.5 of a percentage point on the same period last year, Istat said. The agency's tables showed this to be the lowest level since 2000.
    Italy's tax-to-GDP ratio dropped to 38.9% in the first quarter of 2016, down 0.2 of a percentage point on the same period last year, Istat said.