Inflation boom, at 5.4% in October. Mattarella: "Citizens' standard of living attacked"

"Geo-economic and geo-political conflicts attack, with inflation and an inactive wage dynamic, the standard of living of citizens". The President of the Republic, Sergio Mattarella, stated this in his message on Savings Day.

"Full European integration presents itself, also in this area, as the best defense tool against merely speculative finance" states Mattarella in the message. "The obstacles to the single market on the one hand and the relative weakness of long-term savings on the other divert huge resources elsewhere and hold back investments that could, instead, make our societies stronger" underlines the Head of State.

"New financial instruments have appeared and, however, their operation is called upon to obey the same precepts to protect families" adds Mattarella, recalling how the Constitution in article 47 links "savings to the discipline of credit".

For the Head of State, these precepts enhance "the earnings from work that they manage to put aside, channeling savings towards safe and productive investments, all the more significant in times in which geo-economic and geo-political conflicts attack, with inflation and an inactive wage dynamic, the standard of living of citizens".