Italian households see buying power fall 4.8% in 2013

(ANSA) – Rome, December 5 – Purchasing power for Italian households is set to fall another 4.8% in 2013, business association Confesercenti announced on Thursday.

The decline represents a 25 billion wallop to Italian wallets, and comes after a 4.9% decline in buying power from 2011 to 2012 reported Thursday by the Italian social security agency INPS.

Purchasing power is set to decline by more than 9% in just the last two years, according to Massimo Vivoli, deputy vice-president of Confesercenti.