Introduction section Planned Inflation Rate
Planned Inflation Rate
The planned inflation rate (TIP) is a reference parameter for the updating of both budget figures and fees set by law (e.g. public contracts, rents, family allowances, school lunches, and so forth). It is furthermore the basis for updating the annual national television fee, water and waste rates, highway tolls (for concessionaires other than Autostrade S.p.A., whose tolls are adjusted on the basis of actual inflation) and it is taken into consideration in the computation of auto liability insurance premiums (indeed, it represents the threshold of increase above which the insured can decide not to renew the contract upon expiration).
In the past, following the Wage Agreements signed by social partners in 1993, the planned inflation rate (TIP) was also the indicator used for adjusting wages to inflation at the time of labour contract renewals. As of 2009, the planned inflation rate is no longer used for labour contractual renewals. At the end of January 2009, with the definition of the New Wage Agreement signed by the Government and social partners, a decision was made to tie the changes in wages to an indicator based on the harmonised index of consumer prices (HICP), net of the trend of prices of imported energy goods. The estimate of the HICP, net of imported energy prices, is published by ISTAT (until 31 December 2010, it was published by ISAE) every year during the month of May.
The table of the planned inflation rates set out below shows the average annual changes in the planned inflation rate and the consumer price index for clerical and factory workers (FOI, net of tobacco products), the latter of which is a parameter periodically used for adjusting monetary values (e.g. rents or alimony amounts due).
For the actual rates: analyses using ISTAT data; for the planned rates: official documents (RPP, RUEF, DPEF, DEF, and Update to the DEF).