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Istat, a new jump in inflation: in August + 8.5%, a record since 1985

Istat, a new jump in inflation: in August + 8.5%, a record since 1985

Milan – A new explosion of inflation. According to preliminary data released byIstat In August, prices rose 8.5% y/y setting the record since 1985. And by 0.8% m/m. The Maxi also acceleration for the shopping cart, which is up 9.7%, always at its highest levels since 1984. “Electricity and gas are the two free markets that produce the acceleration in the prices of unregulated energy goods (relieved in part by a slowdown in fuel rates) which, along with Processed foods and durable goods are driving inflation to a level not recorded since December 1985 (when it was +8.8%), Istat explains.

Inflation is also accelerating, and Istat continues, i.e. net energy and fresh food (from +4.1% to +4.4% in August, it hasn’t been like this since May 1996 when it was +4,7%) and net inflation of energy goods only (from +4.7% to +4.7% in August). +4.9%, hasn’t been since April 1996).

Returning to the general indicator, the acceleration of inflation on an annual basis is mainly due to energy commodity prices (the growth of which rises from +42.9% in July to +44.9%) and especially unregulated energy (from +39.8% to +41.6%; energy commodity prices continue On the one hand, prices of manufactured foodstuffs (from +9.5% to +10.5%) and durable goods (from +3.3% to +3.9%) are regulated in recording very high but stable growth at +47.9%.
On the other hand, prices for services related to transportation registered a slowdown (from +8.9% to +8.4%).

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On an annual basis, the Statistical Institute still indicates that the prices of goods are accelerating (from +11.1% to +11.8%) while the growth of those services is largely stable (from +3.6% to +3.7%); Therefore, the negative inflation differential between the latter and commodity prices is widening (from -7.5 in July to -8.1 percentage points).
On a monthly basis, the increase in the general index is mainly due to the prices of unregulated energy goods (+ 3.0%), transport services (+ 2.4%, also due to seasonal factors), processed food (+1.2%), durable goods (+ 0.8% ) and leisure, cultural and personal services (+0.7%, also due to seasonal factors).