Prices soar, reaching highest level in 26 years. This is confirmed by the preliminary estimates of Istat, according to which last month, the consumer price index, gross of tobacco, recorded a monthly increase of 1,6% and 4,8% annually (from +3,9% in the previous month). This leads to the highest inflation since April 1996.
To drive the flame of prices, they are energy assets regulated which in January recorded an increase on an annual basis of +38,6%. Growing inflationary tensions are also manifesting themselves in other commodity sectors, underlines the National Institute of Statistics.
In the meantime, Istat communicates new entries in the 2022 basket, from PC chairs to individual psychotherapy, via serological tests, molecular and fast for Covid-19. Outside instead Compact disk and Hoverboard. The news for 2022, with reference to both the weights and the basket, explains Istat, "reflect the constant evolution of household spending behavior but also the impact of events, such as the still ongoing pandemic, which condition the choices of purchase and the structure of consumer spending”.
Also up sharply the flash estimates published today by Eurostat, according to which annual euro area inflation is expected to be 5,1% in January 2022, up from 5% in December. This is the largest increase since the series began in January 1997.
Looking at the main components of inflation in the euro area, energy is expected to have the highest annual rate in January (28,6%, compared to 25,9% in December), followed by food, alcohol and tobacco ( 3,6%, compared to 3,2% in December), services (2,4%, stable compared to December) and non-energy industrial goods (2,3%, compared to 2,9% in December).
