Accuracy – Italy: Record increases of up to 56% in food – Energy costs more than tripled
Record increases in food and energy are being recorded in Italy, with price hikes in basic products reaching up to 56% while energy costs have more than tripled. After the presentation of the October inflation data (plus 11.9% on an annual basis) by the Italian Institute of Statistics Istat, today the Italian Consumer Union Unc refers to the revaluations of basic products in the food sector. In more detail, seed oil, within one year, in Italy increased by 56%, butter by 42.9%, sugar by 35.9% and rice by 30.6%.
At the same time, the price of long-life milk increased by 29.4%, vegetables by 25.1%, while flour increased by 23.7% in the last twelve months. The price increases in spaghetti reached 22.5%, in eggs 18.7%, while the price of chicken increased by 18% compared to October 2021.
According to the Italian Consumers Association, within twelve months the cost of energy on the free market has more than tripled, with an increase of 329%. The president of Unc, Masimilano Donna, finally predicted that based on the latest increase in inflation, this year Italian households will be asked, on average, to spend 3,324 euros more than last year.
Meloni: Priority to put a limit on the increase in energy prices and speculation
Italy’s government’s priority is to put a limit on energy price increases and speculation, Italian Prime Minister Giorgia Meloni said in a Facebook post. “The cost of bills is unmanageable, for millions of families and many businesses, which have been forced to make dramatic decisions, such as closing down or laying off workers,” added the Italian prime minister. In her post she also notes that “our government is working to deal with this whole situation and to strengthen measures to support citizens and economic activities”, saying that “Italians demand immediate answers and this government alliance will give them them offers”. Energy was one of the key issues that the new Italian prime minister already mentioned during her programmatic statements.