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.
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