“Italy’s Inflation Rate Soars to 8.2% in April – Analysis and Trends”

2023-05-16 09:49:57

The rise in prices accelerated in Italy in April, rising to 8.2% over one year, against 7.6% in March, according to final data published on Tuesday by the National Institute of Statistics (Istat).

Inflation, which rose due to a further acceleration in energy prices, was however revised slightly downwards by the institute which had previously estimated it at 8.3%.

Over one month, consumer prices rose by 0.4% in Italy.

This upturn in inflation after several months of slowdown is mainly due to the rise in the prices of unregulated energy goods (from +18.9% to +26.6%) and, to a lesser extent, that of cultural services and personal care (from +6.3% to +6.9%).

This increase was only partially offset by the more pronounced fall in the prices of regulated energy products (from -20.3% to -26.7%).

Processed food products (from +15.3% to +14%), unprocessed food products (from +9.1% to +8.4%) and transport-related services (from +6.3% to +6%) saw their price increase slow down.

The price of pasta, the national dish of Italians, even increased by 17.5% in March year on year and by 16.5% in April, which led the Ministry of Business to convene a crisis meeting last Thursday with the producers.

The inflation index calculated according to the harmonized standards of the European Union (IPCA) is higher than the national rate, reaching 8.7% in April over one year, against 8.1% in March.

Inflation in Italy is higher than that of the euro zone, which also rose again in April, to 7%, after 6.9% in March.

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