Inflation hits 3-year high in Italy

Inflation in Italy reached its highest level in three years in September, according to preliminary estimates from Istat. The annual inflation rate rose to 4.2%, up from 3.3% the previous month. This increase was driven largely by rising energy costs, which climbed from 17.1% to 22.3%.

Antonio Russo, spokesperson for the Alliance Against Poverty in Italy, stated that inflation acts as a regressive flat tax that primarily harms low-income families and those already struggling. Russo noted that the price hikes affect essential goods such as food, household products, personal care items, and healthcare. He also highlighted that wage stagnation for employees further diminishes purchasing power as costs rise.

Beyond energy, the data shows significant price increases for transport services as well as recreational, cultural, and personal care services. While some oil and electricity companies have recently offered to mitigate prices, Russo expressed uncertainty regarding whether these measures will be sufficient to address the economic pressure on vulnerable populations.