In July, Italy’s inflation rate was 7.9%
The national statistics agency said the rise was driven by higher energy prices, up by 44.9% in August, compared to 42.9% in July.
ISTAT also said its consumer-price index was up 0.8% in month-on-month terms.
"It’s the electricity and gas free market that produces the acceleration in prices of unregulated energy goods. That, along with the production of processed food and durable goods, has pushed inflation to a level not seen since December 1985 (when it was +8.8 percent)," Istat explains.
The prices of processed food goods (having risen from +9.5% to +10.5%) and durable goods (from +3.3% to +3.9%) are certainly partly to blame. Conversely, prices for transport-related Services (from +8.9 percent to +8.4 percent), have gone down.
The Italian government continues its race to put together a new support package for families and businesses struggling amid these spiralling energy prices.
