Inflation at 11.4% in August

Inflation reached 11.4% in Augustas announced a while ago by ELSTAT. The price marks a marginal decline compared to July.

According to ELSTAT, the decrease of the General Consumer Price Index by 0.3% in the month of August 2022, compared to the corresponding Index of July 2022, came mainly from the changes in the following groups of goods and services:

1. From the increases of the indicators by:

• 1.3% in the group Food and non-alcoholic beverages, mainly due to price increases in: bread and cereals, beef,
pork, cold cuts, fish (in general), dairy and eggs, fresh fruit, preserved or processed vegetables,
ice creams, sauces-condiments, coffee. Part of this increase was offset by the decrease mainly in prices in
fresh vegetables.
• 0.7% in the Housing group, mainly due to price increases in: natural gas, solid fuels. Part of that increase
was compensated by the decrease mainly in electricity prices.
• 1.2% in the group Durable goods-Household goods and services, mainly due to an increase in prices of immediate items
household consumption.
• 2.0% in the Health group, mainly due to price increases in: pharmaceutical products, hospital care.
• 0.3% in the Hotels-Cafes-Restaurants group, mainly due to an increase in prices in restaurants-patisseries-cafes.
• 0.8% in the Other goods and services group, mainly due to price increases in other personal care items.

2. From the reductions of the indicators by:

• 7.8% in the Clothing and footwear group, due to general summer sales.
• 4.1% in the Transportation group, mainly due to a decrease in prices in: fuel and lubricants, passenger transport tickets
with airplane. Part of this decrease was offset by the increase in prices mainly for new cars.

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