Consumer Prices in Italy Up 1.7 Percent in February

The data showed that consumer prices, driven mainly by energy costs, increased by 0.2 percent compared to the previous month. A key factor behind the rise was regulated energy goods, which surged by 31.5 percent year-on-year. Prices for processed and unprocessed foods, which are linked to energy costs, also rose in February, the national statistics institute, ISTAT reported.

February marked the fifth consecutive month in which Italy's year-on-year inflation rate either held steady or increased, a trend that began last October.

In response to rising energy costs, the Italian government on Friday unveiled a 3-billion-euro (3.1 billion U.S. dollars) package to support families and small businesses. Prime Minister Giorgia Meloni announced that 1.6 billion euros would be allocated to households and 1.4 billion euros to businesses.

In September 2023, when the inflation rate stood at 5.34 percent, Italy launched an "anti-inflation quarter" that temporarily capped prices on key goods for three months. While inflation remained relatively low afterward, it has edged higher in recent months.

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