In a significant economic development, Italy has recorded the highest increase in real household income among OECD countries, with a 3.4% rise in the first quarter of 2024. This growth, driven by increased employee wages and social transfers, marks a stark contrast to the previous quarter's decline.

The OECD report highlights that while the average real income per capita across its member countries rose by 0.9%, Italy's performance was notably superior.

Prime Minister Giorgia Meloni attributes this success to government policies focused on contract renewals, pension increases, and tax reductions.

Other G7 countries also saw income growth, with Germany at 1.4% and France at 0.6%, but Italy's figures stand out.

Meanwhile, Poland experienced the most significant growth among OECD countries at 10.2%, while Greece faced a decline of 1.9%.

This positive trend in Italy suggests a recovery in purchasing power after years of stagnation.