Italy’s Inflation Rate Declines to 1.6% in August

Rome: Italy’s annual inflation rate decreased to 1.6% in August from 1.7% in July, as reported by Istat on Tuesday, confirming its preliminary estimate. The decline was largely attributed to a decrease in energy prices.

According to Ansa News Agency, energy prices fell by 4.8% compared to a 3.4% decrease observed in July. However, food prices saw a slight increase, accelerating to 3.8% from 3.7%.

Istat also indicated that its consumer price index increased by 0.1% in month-on-month terms. The agency’s ‘shopping trolley’ index, which includes prices for food, household goods, and personal care products, rose from 3.2% to 3.4%.