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Italy’s Inflation-Adjusted Retail Sales Decline in 2022

Italian retail sales increased in value terms but decreased in volume in 2022 compared to the previous year, with consumers suffering from high inflation, data showed on Wednesday.

The data from the national statistics bureau ISTAT revealed that sales increased by 4.6% in value terms, while volume declined by 0.8%. This was primarily due to a 4.2% decline in volume for food goods, which offset a 1.9% increase in non-food products.

Consumer price inflation in Italy, as measured by the EU-harmonized index, grew by 8.7% in 2022, marking the largest increase in more than 30 years, driven by soaring energy prices.

In December alone, retail sales fell by 0.7% in volume terms, following a 0.4% rise in November. The overall trend reflects the challenges faced by Italian consumers in the face of rising prices.

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