Inflation in Italy has hit a 36-year high, reaching 6.9% in May.
According to the Italian Institute of Statistics Istat, in May prices rose by 6.9% on an annual basis (the highest rate since 1986) and 0.9% on a monthly basis.
According to Istat, the price spike is due to price increases in the energy sector, which affect everything else.
In particular, increases in energy prices in May reached 42.2% on an annual basis. Food prices increased by 7.1%. In transport, the prices are 6%.
The Italian Institute of Statistics, finally, predicts that, unless there are significant changes in the country’s economic data, this year Italy’s GDP will increase by 2.6%.
