Our role for the real economy

Italian scenario

In 2022 GDP increased, but so did inflation

The particular complexity of 2022 had an inevitable impact on the economic situation in Italy and internationally. Despite the post-Covid-19
recovery, the outbreak of the conflict between Russia and Ukraine represented an extremely important factor of instability for the markets, which were forced to reckon with higher production costs, lower real household incomes and particularly tight monetary policies.

In this scenario, Italian GDP nonetheless increased by 3.7%, supported by domestic demand. At the same time, consumer prices rose by 8.7% on average and retail sales were up by +4.6% against a decline in volumes.

Employment improves, yet the gender gap remains significant

In 2022 the number of job-holders in Italy increased by 545,000 on
2021.

However, despite the improvement in jobs, the gender gap remains significant: of the newly employed, 296,000 were men and 38,000 women.

Italians’ shopping carts: a record year with more to it than meets the eye

The year 2022 ended with household grocery expenditure at an all-time high, +6.4% on 2021.

The increases affect all of Italy, although some categories have been particularly affected, including “young single people” and “new families”.

Price rises were most notable for pasta and cereals, oils, soft drinks, meats and cheese products, whereas wines and fish products were the only categories to show a real decline in spending.