Today, Friday, according to preliminary statistics from the Italian Statistical Office, consumer prices increased at a higher rate than anticipated in October, reaching their highest level in more than 38 years.
Separate official data indicate that producers kept up their rapid growth in September.
Inflation of consumer prices increased to 11.9% in October from 8.9% in September, exceeding economists’ expectations of a 9.6% increase.
According to the Statistical Office, the last time inflation reached this amount was in March 1984. An increase in energy prices of 73.2% was a major factor in the inflation.
When energy and fresh commodities are excluded, fundamental inflation rose from 5% to 5.2%. On a monthly basis, consumer prices moved 5. 3% in October, compared to an expected increase of 1. 2%..
Italy experiences its highest level of inflation in 38 years.
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