The new year opens with bad news for Italian consumers, already grappling with relentless inflation and the new price hikes in 2024. Between planned and feared increases, families may face a potential rise of nearly a thousand euros annually. Consumer associations, including Codacons, are calculating this surge in costs.
Telephony, cars, and transportation: Voices of the 2024 Price Hikes
According to Codacons estimates, the telephony sector will be one of the most affected, with an overall increase of 770 million euros in fixed, mobile, and internet network services. Families will also have to contend with rising transportation costs, with cars, trains, and planes potentially costing an additional 160 euros per year for an average family.
End of the Anti-Inflation Pact and Temporary Bill Bonus
With the start of 2024, the Anti-Inflation Pact has ended, an agreement that ensured regulated prices on various products and groceries. Minister Adolfo Urso stated that the goal has been achieved, and the “tricolor cart” quarter will not be renewed. However, to ease the pressure on families, the bonus for electricity and gas bills has been confirmed only for the first quarter.
2024 Price Hikes: Toll fees increase until March
The Milleproroghe decree has led to an increase in toll fees, adjusted to the predicted inflation for 2024 (2.3%). However, this measure will be valid only until the end of March. After this date, fees will be determined by the Economic-Financial Plans, still awaiting presentation by the companies.
End of the protected electricity market and new tariffs
Arera has postponed the end of the protected electricity market from April 1st to July 1st to allow for a smoother transition to the free market. Meanwhile, Codacons warns that 2024 will see significant increases in daily expenses, including food, bills, and telephony.
Impact on household budgets and future prospects
The cost increase will heavily impact the budgets of Italian families, already strained by a year of soaring inflation. Spending items such as food and beverages could lead to an estimated increase of 231 euros per family, while the transportation sector will contribute an additional expense of 160 euros annually. Toll fees will also see an increase until March, further exacerbating the financial situation for families.
Bill bonuses and the end of the protected market: Temporary solutions
The bonus for electricity and gas bills, confirmed only for the first quarter, may provide temporary relief for economically struggling families. Meanwhile, the end of the protected electricity market, postponed to July, offers an additional timeframe to inform users about the transition to the free market.
The 2024 Price Hikes
In conclusion, 2024 is shaping up to be a challenging year for Italian families, forced to confront a generalized cost increase. From the end of the Anti-Inflation Pact to the temporary bill bonus, consumers will face a series of financial challenges in the coming months. The situation requires attention from institutions and adequate information to enable families to better plan their finances amid an economically complex period.