Eight months of crisis in the Gulf have left deep wounds on the side of the global economic system. And the repercussions are evident everywhere. Trump lost the midterm elections badly and European countries, including Italy, have become tinderboxes of discontent. The cost of living bites and anger produces pockets of chaos. It is the effect of tensions on energy routes which, between the blockade of Hormuz and uncertainty over supplies, have brought back to the center a vulnerability that seemed to have diminished after the invasion of Ukraine: the dependence on international energy markets. The increase in the price of gas, electricity and fuel has progressively affected production costs and the prices of goods, inevitably ending up impacting family budgets. And Italy once again finds itself having to deal with pressure that affects the entire production system, from large industries to local businesses, from small shops to artisan workshops. And while bills and fuel in homes reduce purchasing power, businesses see margins shrink and are forced to postpone investments.
The strong presence of micro and small businesses, with often reduced margins and less ability to absorb price increases, makes Calabria even more exposed to the winds of the energy crisis, which risks slowing down investments, production and growth prospects.
The 21st annual report by Confartigianato Imprese photographs a situation which, with the expansion of the conflict in the Middle East, has progressively worsened. Between March and October this year, the wholesale price of gas increased on average by 70.1% compared to February, that of electricity increased by 40.3%, while industrial diesel, net of taxes, recorded an increase of 57%. Considering the weight of the different energy consumption of companies, the average increase in the cost of energy reaches 55.6%.
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