Prices in Italy climbed 1.1 pct in August: ISTAT


  • World
  • Tuesday, 17 Sep 2024

ROME, Sept. 16 (Xinhua) -- Italy's annual inflation rate was higher than 1.0 percent for the second consecutive month in August, the Italian government's statistics entity reported Monday, though it was lower than preliminary estimates, and it remained below the average in the euro currency zone.

ISTAT, Italy's National Statistics Institute, said that prices in Italy were 1.1 percent above their level from the previous year, down from the 1.3-percent year-on-year increase in July.

But it was the second month in a row the rate was above the 1.0 percent level, a rate topped just once in the preceding eight months.

ISTAT said that energy prices were a major factor in the rate for August, with unregulated energy prices falling 8.6 percent compared to a year earlier, lower than the 6.0-percent decrease recorded in July. But regulated energy goods rose by 14.3 percent over the same period, compared to an 11.7-percent increase in July. The increased regulated energy prices helped push transportation costs up by 2.9 percent year on year, compared to a 2.2 percent increase a month earlier.

Despite the broad acceleration in price increases in Italy, the Italian inflation rate was still among the lowest in the 20-nation euro currency zone, where prices rose 2.2 percent in August of this year compared to August 2023. Of the 20 eurozone nations, only Ireland, Latvia, and Lithuania reported rates lower than the 1.1 percent rate Italy reported.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Monsoon havoc exposes West and Central Africa's rising flood risks
Indian opposition pushes Modi for discussion on worsening Canada ties
Russia's attack on Ukraine's Mykolaiv kills one, injures 16, governor says
Iran condemns EU, UK sanctions on Tehran, denies providing ballistic missiles to Russia
Son of Singapore's founding PM Lee says he plans to demolish family home
North Korea blows up parts of inter-Korean road on its side of border, Seoul says
US warns Iran to stop plotting against Trump, says US official
How Indonesia's outgoing Jokowi steered son Gibran to vice presidency
UN Security Council urges all parties to respect safety of UN peacekeepers in Lebanon
Palestine welcomes Spain's call to halt weapons exports to Israel

Others Also Read