Italian inflation continues to travel ever higher: in September prices grew by 3,1% on an annual basis and by 0,1% compared to August. This is the highest figure since October 2008, when inflation was 3,5%. These are the data contained in Istat's preliminary estimates on the national consumer price index.
The inflation acquired for 2011 is equal to 2,6%. Core inflation, calculated net of energy goods and fresh foodstuffs, rose to 2,5%, with an acceleration of three tenths of a percentage point compared to August (2,2%).
Tobacco products recorded an increase of 0,1% in the quarter and 3,1% on a trend basis. A trend that seems to demonstrate how the increase in VAT from 20 to 21% decided by the last budget package. In any case, according to Istat, "the increase in the value added tax will fully take effect from October".
