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high cost of living

Inflation slows down the growth of the island, stifled by the energy sector

The Bank of Italy report on Sardinia: some timid signs of recovery on the employment front
22 giugno 2023 alle 12:05Aggiornato il 23 giugno 2023 alle 07:26
Inflation slows down the growth of the island, stifled by the energy sector
I vertici di Banca d'Italia durante la presentazione del rapporto (foto Mascia)
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Economic restart with the handbrake on for Sardinia. In fact, the enormous ballast of galloping inflation weighed on the desire to put the pandemic behind us in 2022, which inevitably affected the wealth of families, employment, the loan and mortgage market and the prospects of businesses on the island.

The possibility of reaching the levels prior to the appearance of Covid is therefore postponed, even if the prospects for 2023, always thanks to the high cost of living, are far from rosy and portend a long period of sacrifices for the Sardinians.

The numbers and analyzes come from the latest report on the economy of Sardinia presented in Cagliari by the Bank of Italy . "In 2022, Sardinia's economy continued to grow (+3.5%), however, recording a more contained expansion compared to the previous year which led to a partial recovery of the wealth lost during the pandemic crisis", explained Stefano Barra, director of the Cagliari branch of the Bank of Italy.

The heaviest blow came from the energy sector : "The price of bills and fuel in Sardinia fell more strongly than in the rest of the country," confirms Giovanni Soggia, of the Bank of Italy's Territorial Economic Analysis and Research Division.

In 2022, however, there were timid signs of growth in terms of employment (+0.5%), household disposable income (+5.6%) and consumption (+5%) . All obviously net of the evolutions of 2023, a year even more penalized by the high cost of living.

All the numbers of the report and the analyzes of the experts on L'Unione Sarda on newsstands and on the app

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