The cost-of-living crisis is affecting household finances Soaring inflation is causing Italian households to curb spending on food, according to a report by the General Confederation of Italian Industry (Confindustria). The report showed household spending on groceries is in “sharp decline.” It dropped by 3.7% in 2022, and by 8.7% in the fourth quarter of 2022 when compared with the first quarter of 2021. “This has become a burden on overall consumption, given that spending on food accounts for 14% of all expenses, second only to spending on housing, water and energy (23%),” Confindustria wrote. The head of the Na
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