Thursday, 4 September 2008

Italian inflation rises to 4.1 and 6.1 per cent

The official inflation rate in Italy has risen to 4.1 per cent in July, more than double what it should be in the euro zone. If the trend continued, it would make the annual inflation rate 3.5 per cent. However, if the price rise calculation is based on products which people buy frequently, then the inflation rate is 6.1 per cent. (The official figures include many products, such as white goods and televisions, which people buy only once every few years.) Alcoholic drinks and tobacco rose by 2 per cent in July; rent, water, electricity and fuel by 8.6 per cent; transport by 7 per cent and food and non-alcoholic drinks by 6.3 per cent. [La Repubblica, 11 August 2008]

-- From The European Journal. Sign up for FREE to John Laughland's 'Intelligence Digest' to find out what’s really happening in Europe --

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