The race of inflation continues, which in September, according to Istat surveys, touches 9% on an annual basis, mainly driven by the prices of the so-called “shopping cart”, or basic necessities for home care and per person, which jumped 11.1% from a year ago, marking an all-time high since 1983.
According to preliminary estimates released by the National Statistical Institute, the national consumer price index for the whole community (NIC), gross of tobacco, recorded an increase of 0.3% on a monthly basis and of 8%. 9% yoy, up from + 8.4% last month.
In the Eurozone, I jumped by 10%
Things are no better in the rest of Europe: in September the annual inflation rate in the Eurozone set yet another record, as Eurostat notes, going from 9.1% in August to 10%. Double-digit inflation was mainly driven by the rise in energy prices, which reached 40.8% against 38.6% in August.
Returning to Italy, Istat explains that the further acceleration of inflation on a trend basis is mainly due to the prices of food goods (whose growth goes from + 10.1% in August to + 11.5%) and processed (from + 10.4% to + 11.7%), both unworked (from + 9.8% to + 11.0%) and those of recreational, cultural and personal care services (from +4, 6% to + 5.7%).
Non-durable and semi-durable goods also contribute to the jump in prices, albeit to a lesser extent. Although slowing down slightly, the prices of energy goods continue to grow very broadly, from + 44.9% in August to + 44.5%. The growth in transport prices also slowed down, going from + 8.4% to + 7.2%.