ROME, Nov. 15 (Xinhua) — Italy’s National Institute of Statistics (ISTAT) reported that the country’s consumer price index (CPI) rose by 1.7 percent on an annual basis in October. This is a significant decline from the 5.3 percent increase recorded in September, and well below the peak of 11.9 percent at the end of 2022.
According to the agency, the slowdown in the annual inflation rate was primarily attributed to lower prices of energy products and food.
The conflict between Russia and Ukraine in early 2022 caused global energy prices to surge, leading to a severe impact on Italy.
October marked the beginning of the Italian government’s “anti-inflation quarter,” during which it implemented measures to artificially lower consumer prices for a range of essential items. These measures will be effective until at least the end of the year.
