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Rises 2024: italian families ready to face a general increase in costs

2024 appears to be a year of financial challenges for Italian families, with significant increases expected in sectors such as bills, telecommunications, transportation, and more. The news of imminent rises emerged from estimates by consumer associations, indicating a possible overall increase of 974 euros per family unit throughout the year.

Rises 2024, predictable increases: where they will hit the hardest

Consumer associations, particularly Codacons, have analyzed various sectors to calculate the onslaught of upcoming increases. Among the most impactful items is the telecommunications sector, with estimates of an overall increase of 770 million euros in fixed, mobile, and internet service fees throughout 2024.

Families will have to face particularly substantial increases in various areas. The podium is occupied by food and beverages, with an estimated increase of +231 euros per family. Transportation sector also makes its presence felt, with a potential burden of 160 euros per year for an average family, already affected in 2023 by high fuel and flight costs.

The varied landscape of rises: from banks to tourism

2024 will not spare even the banking sector, with an expected increase of +18 euros per family unit for financial and banking services. Local fees, including those for waste and water, could lead to an increase of +60 euros. Bars, restaurants, and the tourism sector will also see cost increases, with an estimated expenditure of +68 euros annually for eating out and +120 euros more per family unit for tourism-related expenses.

Rises 2024, energy sector: “heavy unknowns” and potential increases of 220 euros

The energy sector is one of the “heavy unknowns” of 2024, according to Codacons. The end of the protected gas and electricity markets could lead to significant tariff increases, with an estimated +220 euros annually per family unit.

Rises 2024: Impact on consumers: new rises in a difficult context

These increases come in a context already marked by a difficult period, with soaring inflation in the previous year. Some increases have already been planned, while others are expected or feared. Italian families will need to prepare for a general increase in costs that will affect everyday life, from meals to bills, from telecommunications to car insurance.

Conclusions: new rises in the 2024 financial landscape

2024 is shaping up to be a complicated year for household finances, with families grappling with the need to adapt their budgets to cope with a generalized increase in costs. From food to financial services, consumers will have to reckon with new rises that could significantly impact their finances.

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