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đ 1. Italian economic context and global context
Before analyzing item by item, it is useful to understand the overall picture of the Italian economy in 2026.
đ Moderate but present inflation: according to official forecasts, inflation in Italy for 2026 will remain around 1.3-2% year-on-year â not as high as in recent post-COVID peaks, but enough to drive up the prices of goods and services.
đ Slow economic growth: the European Commission expects modest growth in 2026, with a GDP of around 0.8%. This means that wages and real income will not increase much, while costs (as we will see) will.
đ Expansionary fiscal policy: the 2026 economic manoeuvre introduces various new taxes or realignments of rates (excise duties, various levies), with a direct impact on the prices of consumer goods.
đ Inflation “imported” from regulated costs: some increases do not derive from free market dynamics but from changes in taxes and excise duties decided by the legislator.
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