Perception of financial crisis in Italy 2018

According to a survey from 2018, most Italian respondents perceived the financial crisis from 2008 as a menace. A decade after the global financial crisis hit Italy in 2008, this topic was still object of discussions. Over 80 percent of interviewees declared that the international financial crisis was either as bad as it appeared to be or even worse. Consequences of the 2008 crisis can be seen in macro-economic aspects such as the unemployment and the inflation.

Unemployment

    After 2008, the unemployment rate in Italy increased steadily. The highest figure was recorded in 2014, when the unemployment rate peaked at 12.7 percent. Afterwards, the rate started declining. In 2019, the unemployment rate registered its lowest figure since 2008. The financial crisis mostly affected the young population, reaching in 2014 the highest unemployment rate of the last years. That year, over 42 percent of the young population was unemployed.

Inflation rate

  Similarly, the inflation rate showed its largest figure in 2008. Compared to 2007, the inflation rate in Italy in 2008 increased by 3.3 percent. Inflation rate in mostly measured by analyzing the movement of the Consumer Price Index. The CPI is a measure that examines the changes in the purchasing-power of a currency. It measures changes in the price level of market basket of consumer goods and services purchased by households.