Inflation in August rises to 8.4%, the top since 1985 – Economy

Inflation in August rises to 8.4%, the top since 1985 – Economy
Inflation in August rises to 8.4%, the top since 1985 – Economy
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An autonomous decree, if it is succeeded within the next week. While the senators are going to a quick examination of the aid decree bis, however, trying to bring home some changes starting from the highly contested rules on the expert teacher, the government continues the race to develop a new package of support for households and businesses against expensive energy. It will take a few more days, the refrain that they repeat at Palazzo Chigi and the Mef, to have a survey of the resources actually available. The calculations of the revenue trend are also expected in August and, above all, the collections of the tax on extra-profits, after the tightening introduced with the aid decree bis at the beginning of August.

Inflation still rising. According to preliminary Istat estimates, in August the national consumer price index for the entire community (Nic), gross of tobacco, recorded an increase of 0.8% on a monthly basis and 8.4% on an annual basis (from + 7.9% the previous month).

“Are the’electric energy and free market gas which produce the acceleration in the prices of unregulated energy goods (partly mitigated by the slowdown in those of fuels) and which, with processed food and durable goods, push inflation to a level that was not recorded from December 1985 (when it was + 8.8%) “, explains Istat.

They also accelerate, continues Istat, core inflation, i.e. net of energy and fresh food (from + 4.1% to + 4.4% in August, it was not so since May 1996 when it was + 4.7%) and inflation net of energy goods only ( from + 4.7% to + 4.9%, it was not like this since April 1996).

Returning to the general index, the acceleration of inflation on an annual basis is mainly due on the one hand to the prices of energy goods (whose growth goes from + 42.9% in July to + 44.9%) and in particular of Non-regulated energy (from + 39.8% to + 41.6%; the prices of regulated energy goods continue to record a very high but stable growth at + 47.9%), and on the other to those of processed food goods (from + 9.5% to + 10.5%) and Durable Goods (from + 3.3% to + 3.9%). On the other hand, the prices of services relating to transport recorded a slowdown (from + 8.9% to + 8.4%). On an annual basis, the Institute of Statistics still indicates, the prices of goods accelerate (from + 11.1% to + 11.8%) while the growth of those of services is substantially stable (from + 3.6% to + 3.7%); therefore, the negative inflation differential between the latter and the prices of goods widens (from -7.5 in July to -8.1 percentage points). On a monthly basis, the increase in the general index is mainly due to the prices of non-regulated energy goods (+ 3.0%), transport services (+ 2.4%, also due to seasonal factors), Processed food (+ 1.2%), Durable goods (+ 0.8%) and recreational, cultural and personal care services (+ 0.7%, also due to seasonal factors). Furthermore, again according to preliminary estimates, the harmonized index of consumer prices (Ipca) increased by 0.8% on a monthly basis and by 9.0% on an annual basis (from + 8.4% in the previous month).

According to the data of the institute, which released the provisional estimate of consumer prices in August, the inflation acquired for 2022, or the one that would be obtained assuming a zero change in the remainder of the year, is equal to +7, 0% for the general index and + 3.5% for the core component (net of energy and fresh food).


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This was reported by the flash estimate of Eurostat, the statistical office of the European Union (ANSA)

With inflation which, according to preliminary Istat estimates, “jumps in August to 8.4% on an annual basis, chatter is not needed. So it does not hold up. The aid decree bis puts inadequate resources for workers and pensioners : urgent action is needed immediately to protect already impoverished wages and pensions “. This was stated by the general secretary of the CGIL, Maurizio Landini.

Inflation at 8.4% in August translates into a new “sting” for families “struggling with abnormal increases in prices and tariffs”. The Codacons affirms that considering the totality of the consumptions, it calculates “a greater expense equal to +2.580 euros per year for the ‘typical’ family, which reaches +3.352 euros per year for a household with two children”. “We are in the presence of a real national emergency that will have heavy effects on the economy and push a slice of the population towards the poverty line – says President Carlo Rienzi -. The Government can no longer waste time and must urgently intervene on food, energy and fuel, immediately cutting VAT on foodstuffs, setting a price cap for electricity and gas and blocking the rise in the price lists of petrol and diesel “, concludes Rienzi.

The article is in Italian

Tags: Inflation August rises top Economy

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