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Inflation in Italy reached the highest level since 1985

17 January 2023 14:50 (UTC +04:00)

Italy's annual inflation rate dropped slightly to 11.6% in December, down from 11.8% in November, the Italian National Institute of Statistics (ISTAT) said on Tuesday, confirming the figure given in its preliminary estimate the 11.8% figure, which was also the inflation rate in October, was the highest level since the rate was 11.9% in March 1984, APA-Economics reports citing ANSA.

The national statistics agency said its consumer price index was up 0.3% in December in month-on-month terms.

ISTAT said the average annual inflation rate was 8.1% last year, compared to 1.9% in 2021, largely because of soaring energy prices.

That is the highest average for the year since it was 9.2% in 1985. (ANSA).