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Bank of Italy in its latest Economic Bulletin notes how inflation has risen to high values (4.2 per cent in December 2021), driven by energy prices. Net of the volatile components, the Bank of Italy explains, the annual variation in prices remains moderate and would diminish over the course of the year, returning to moderate in the next two years
Consumer prices are seen to rise by 3.5 per cent on average for the current year, by 1.6 in 2023 and by 1.7 in 2024. “The core component would be 1.0 per cent this year and would progressively increase up to 1.6 in 2024, supported by the reduction in the margins of unused capacity and by the trend in wages “, remarks Bank of Italy.