Retail group Confesercenti on Sunday
warned that inflation in Italy will 'burn' 10 billion euros in
the next three years.
"The price race will not stop. The inflation rate will remain
above 2% until at least 2025, and risks burning 10 billion euros
of purchasing power of families in three years," warned
Confesercenti.
Its estimate also underlined the impact on taxation: "A taste is
being felt with the cut in the tax wedge prepared by the
government, part of which will be eroded by the tax authorities.
"We must therefore revise the rate structure to cancel out the
negative effects of fiscal drag, or we risk weakening the
impetus that the tax reform under preparation could produce on
household spending capacity".
Italy's annual inflation rate rose to 8.2% in April, up from
7.6% in March to end several months of falls.
ALL RIGHTS RESERVED © Copyright ANSA