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Inflation in Italy highest since 1984
Consumer price growth was led by soaring energy and food costs, official data shows© Getty Images / Karl Weatherly
Italy’s domestic price index jumped 11.8% in October from a year earlier, the highest since March 1984, official statistics agency ISTAT reported on Wednesday.
The rate picked up from an 8.9% annual increase in September and rose 3.4% on the monthly basis. Meanwhile, EU-harmonized year-on-year price growth hit 12.6% in October, jumping from the prior month’s 9.4%.
The “wide speed-up of the growth” in inflation was mainly due to the prices of energy (from +44.5% in September to +71.1%) and food including alcohol (from +11.4% to +13.3%).
The report also showed that prices of grocery and unprocessed food increased by 1.8% on a monthly basis and by +12.6% on an annual basis (up from +10.9% in the previous month).
“Therefore, core inflation (excluding energy and unprocessed food) was +5.3% (up from +5.0% in the previous month) and inflation excluding energy was +5.9% (up from +5.5% in September),” ISTAT said.