Prices in Italy rose by 10.1 per cent in January compared to a year earlier, despite a decline in prices for regulated energy products, the National Institute of Statistics (ISTAT) said on Wednesday.
While prices for regulated energy products in January fell by 10.9 per cent year-on-year, prices for unregulated energy products increased by 59.6 per cent.
Prices for processed food increased by 15.2 per cent year-on-year, unprocessed food surged by 8 per cent, and personal care products increased by 12.2 per cent, Xinhua news agency reported.
Prices in January were 0.2 per cent higher compared with December, ISTAT said.
On Tuesday, ISTAT reported that Italy’s economy contracted 0.1 per cent in the final quarter of 2022, and predicted a decline over the first three months of this year, indicating the country is technically in a recession.