Prices in Italy climbed 1.1 pct in August: ISTAT

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. ■