Italy registers 10.1% inflation in January


Xinhua News

2nd February 2023 – (Rome) Prices in Italy rose by 10.1 percent in January compared to a year earlier, despite a decline in prices for regulated energy products, the National Institute of Statistics (ISTAT) said on Wednesday.

While prices for regulated energy products in January fell by 10.9 percent year-on-year, prices for unregulated energy products increased by 59.6 percent.

Prices for processed food increased by 15.2 percent year-on-year, unprocessed food surged by 8 percent, and personal care products increased by 12.2 percent.

Prices in January were 0.2 percent higher compared with December, ISTAT said.

On Tuesday, ISTAT reported that Italy’s economy contracted 0.1 percent in the final quarter of 2022, and predicted a decline over the first three months of this year, indicating the country is technically in a recession.