Such situation has led to increases in the prices of numerous products worldwide, and particularly in Europe.
These are predictable increases, but which in any case cannot fail to cause concern so Europe must try to take action soon, also because the repercussions on its citizens could be really heavy.
In Italy, according to the estimates announced in the news, prices will increase not only for electricity and gas bills but also for fuel, pasta, bread and most other products such as metals.
Rising commodity prices will in fact impact the production of aluminum, copper, nickel and iron while we also remain with the fear regarding the gas supply because Italy depends largely on Russia for its gas, more than any other country in Europe.
Italian families are not only concerned with electricity and gas bills going up but also with inflation increasingly threatening the price of everything because in a global world we are all connected like in a domino effect.
Consumer prices last year marked an increase of almost 4% on an annual basis, reaching the highest levels since the financial crisis of 2009.
For 2022, inflation is expected to be well above 4% with a higher annual expenditure of between 1,000 and 1,200 euros for an average family for daily grocery shopping alone.
Numbers, according to Codacons, the consumers’ research department, are destined to worsen due to the increases in electricity, gas and fuel costs which will determine a subsequent wave of increases in all sectors.
The news are forecasting that most Italians are ready for a drastic reduction in consumption to cope with the inflation. According to the forecasts, many Italians will indeed face the high cost of living by cutting the quality and quantity of products, especially among less well-off families.
Even when it comes to basic staple foods such as pasta the worry is real.
The price of pasta, together with all other cereal-based products, could increase by over 10% while the livestock sector is also in serious difficulty, due to the supply of corn interrupted by Ukraine.
Italian farmers on TV declared that corn is the main ingredient in the diets for the farm animals and Italy imports most of it from Ukraine.
We are in the presence of a real emergency because for example the rising cost of fuel is not only aggravating the cost for car owners, but it obviously also has a direct effect on retail prices, considering that in Italy the vast majority of goods travel by road on trucks.
The Italian government, right after two years of emergency due to Covid, declared a new state of emergency destined to last at least until the end of 2022 and they announced the establishment of measures to compensate for gas reduction with coal or oil.
The Council of Ministers approved the new decree to offer also military aid to Ukraine and opened a fund of relief and assistance available to the population while many shelters have been set up for arriving refugees from Ukraine so far more than 10,000, mostly women and children.
Over a million Ukrainians are seeking and will seek refuge in the European Union on a massive scale.
The positive thing we notice is that, even in a time of great struggle for all, Italian people (and not only of course) are offering donations, clothes, supplies and even opening their houses to the refugees.
It's a sign of peace and…hope.
Most businesses are now exposing a Peace flag
