Italy’s annual inflation rate accelerated sharply in April, reaching its highest level since 2023 as energy prices rebounded strongly amid supply disruptions caused by the Iran war, final data from the National Institute of Statistics (ISTAT) shows, acording to Anadolu.
Energy markets have been under severe pressure since the outbreak of the Iran war, with the closure of the Strait of Hormuz disrupting one of the world’s most critical oil and liquefied natural gas shipping routes.
The national consumer price index rose 2.7 per cent year-on-year in April, up from 1.7pc in March and slightly below the preliminary estimate of 2.8pc.
On a monthly basis, consumer prices increased 1.1pc, below expectations for a 1.2pc rise but well above the 0.5pc gain recorded in March, marking the strongest monthly increase since October 2022.
The acceleration was driven largely by energy prices, which rose 9.2pc annually after falling 2.1pc in March.
Unregulated energy prices jumped 9.6pc year-on-year in April, compared with a 2pc decline in March, while regulated energy prices increased 5.3pc after a 1.6pc fall in the previous month.
