In the Lombardy capital, the inflation rate exceeded 8%, the highest level since 1994. Restaurant index: If the bill rises, the bill rises proportionately. Thus, price increases are passed on to the consumer
What did he think Federico Cafe Soaring coffee prices in Milan? The Economist from Pistoia is a generation teacher like leaders Mario Draghiwrote thatinflationFrom a social point of view, it can be described as the ability of some groups to pass on price increases to other groups. Thus fixed income finds itself between the anvil of costs and the hammer of salary which loses real purchasing power. We live it every day. And what happens in other places like Milan, for example in rentals and restaurants. In those extra cents of espresso (which have become tens of euros of stars) we find all the tensions over gas, Putin’s war on Ukraine, fear of bills, cold, pessimism, and the economic prospects of winter. With a warning: Milan was and still is the most expensive city in Italy and one of the most expensive in Europe. Munich has passed. He pulls the rope with Paris and London, without immediately losing. over here Trend inflation rose to more than 8 percentmax since 1994, right after Tangentopoli.
This is evident with restaurateurs behaving exactly as Caffè predicted: The bill goes up, the bill goes up proportionately, as if it were normal (must be redistributed at least). One might rightly think: just don’t go to the Michelin restaurants (which are always full and hard to book anyway). We must add: most people have never gone there because they could not afford it before. But the crux of the matter is that in a city like Milan, economic indicators are, from an economic point of view, the tip of the pyramid, and in fact the tip of the iceberg. The rest is less obvious but follows accordingly. The same phenomenon is also emerging for rentals. Moreover, the European Central Bank is raising rates which affect mortgages.
Therefore, the trend is also noticeable for buying. High costs and high prices (Citylife offers large apartments for about 10,000 euros per square metre. And only because the silence but the constant demand in the past from the Russians suddenly disappeared). Holding prices down (rising quickly but re-adjusting them down very slowly) risks creating A permanent wall in the city’s ability to attract talent. Cancel work done in the pre-Covid years. In this respect, the starred indicator must also be viewed by those who do not go: if the gap between those who can and those who cannot grow in Milan, the repercussions are social and therefore collective.
The effect is beautifully described by Trilussa: it seems that Milanese chickens can increase, but the fact is that they eat them less and less. This is the main point of setback for the national and international ambitions of the city, the place of design, human technopol and mind, universities such as Bocconi, Politenico and Bicocca looking to Northern Europe, youth and technology. Skyline has become a brand new one. If Milan wants to remain a popular destination for minds (increasingly attracted to the satellite dimension of intelligent work and thus with an important jelly alternative) should make a flexibility With himself and understanding what city you want to be: an elephant of the wealthy demographic or a rabbit capable of reproducing experiences and talents.
If you want to stay up to date with news from Milan and Lombardy, sign up for the Corriere Milano newsletter for free. It arrives every Saturday in your mailbox at 7 am. its enough
Sep 11, 2022 (changed Sep 11, 2022 | 07:39)
© Reproduction reserved
“Infuriatingly humble social media buff. Twitter advocate. Writer. Internet nerd.”