The Italian consumer price index rose a record 6.8 percent year on year in May, the highest rate since 1990, according to data released by the National Institute of Statistics (ISTAT).
According to ISTAT, the war in Ukraine and a slowdown in international trade have both contributed to the upward trend in prices.
The price data for Thursday fell slightly short of the preliminary estimate of 6.9 percent.
However, it was the highest year-on-year price increase in Italy since the euro’s inception, as well as the steepest since 1990.
According to ISTAT, the monthly inflation rate in May was 0.8%.
Energy goods were the most expensive, with prices rising by 42.6 percent year on year.
Prices for general goods rose 9.7 percent in May, owing primarily to increases in manufacturing and transportation costs, while prices for services rose 3.1%.
