BusinessItaly's CPI climbs to 8.4% in August and marks maximum since 1985

Italy’s CPI climbs to 8.4% in August and marks maximum since 1985


The Consumer Price Index (CPI) of Italy rose eight tenths in August in relation to the previous month, while its interannual rate accelerated to 8.4% from 7.9% in July, according to preliminary data published this Wednesday by the Italian National Statistical Institute (Istat).

This is the biggest rise in Italy’s CPI since December 1985, when prices rose by 8.8% year-on-year in the transalpine country.

Likewise, the year-on-year figure for harmonized inflation in the third largest economy in the eurozone, which Eurostat uses in its calculations, stood at a record 9% in August, which represents an increase of six tenths compared to the rise of 8 .4% of prices in July.

Read Also:   The purchase of ECB assets in Spain increased by 0.6% in July

The Istat has attributed this acceleration mainly to the evolution of the prices of energy goods, with a year-on-year rise of 44.9% in August, compared to 42.9% in July.

Core inflation, which excludes the impact of energy and fresh food, has accelerated in August to 4.4% from 4.1% in the previous month.

Source: Europa Press


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