Inflation is the "most odious" tax on
people's financial situation, Italy's antitrust authority said
in its annual report Tuesday, adding that over half of Italian
households had seen their savings significantly eroded in the
last year.
"Inflation weighs more on families that have lower spending
capacity," said antitrust President Roberto Rustichelli
unveiling the 2022 report.
"As economists often repeat, it is the most odious tax and hits
the needy more than the rich, it reduces the value of savings
and weighs particularly on workers on a fixed income."
Rustichelli added: "During 2022 over half of families has eroded
their savings and the strong increase in interest rates levied
on families and businesses for bank loans has not been followed
by a corresponding increase in the interest rates recognised to
depositors".
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