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Consumer price levels in Northern and Southern Italy

Luigi Cannari () and Giovanni Iuzzolino ()
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Giovanni Iuzzolino: Banca d'Italia

No 49, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper provides a detailed insight into the magnitude of price-level differentials among Italian regions, supplementing the data collected by Istat with information on house prices and rentals collected by Agenzia del Territorio and by the Bank of Italy and with estimates from other sources. Results show that prices are lower in southern Italy than in other areas. The most reliable estimate gives a differential of 16/17 per cent. This spread is due mainly (i.e. more than two-thirds) to different levels of house prices, which include imputed rentals. If only effective rentals are considered, the spread decreases to 10 per cent. Noteworthy differentials can be also found within macro-areas, although on a smaller scale, signalling the potential relevance of regional and local factors in determining the price level of some goods and services.

Keywords: Urban economics; Regional studies (search for similar items in EconPapers)
JEL-codes: R1 E31 (search for similar items in EconPapers)
Date: 2009-07
New Economics Papers: this item is included in nep-geo and nep-ure
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