Inflation in Italy rose to 4.2% in December from 3.9% in November, according to data from the Italian statistical service Istat.
This is the highest level in more than 10 years, as rising energy costs have continued to push prices higher.
Although Spain also recorded the highest inflation of 30 years in December, the northernmost countries of the Eurozone are likely to have already seen its highest level.
The price growth rate was stable in France last month, according to data announced yesterday, Tuesday, while the data for Germany, which will be published tomorrow, are expected to show a decline.
The main driver of inflation in Italy was again energy costs, with utility bills rising 14.4% year-on-year and transport costs 9.6%. Prices for hotel and restaurant services increased by 3.6%, while food and beverage prices increased by 2.9%.
Mario Draghi’s government is taking steps to limit the impact of higher electricity and heating bills on households and businesses, creating a € 4 billion budget reserve for the first half of 2022.
SOURCE: AMPE
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Source From: Capital
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