According to official figures from Italy, inflation surged during the month of October, reaching a level of 11.9% and the index reaching its highest point in roughly 38 years.
According to the Italian ISTAT Agency, consumer prices in Italy increased by 11.9% on an annual basis in October, which is the fastest rate in 38 years.
Compared to 8, the inflation rate increased by 3 percentage points.
6% in September of last year, and the experts surveyed by Trading Economics predicted that the index will rise to 9% this September.
According to data, energy prices surged 73.2% annually after rising 44.5% in September of previous year, while food prices rose 13.1% during the same month. The increase in energy prices is mostly to blame for the inflation index.
Source: Interfax.
Italy’s inflation rate is increasing and has reached its highest level in 38 years.
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