A statistic conducted in Italy showed that "in 2022, prices for consumers recorded an average annual growth of 8.1%, marking the largest increase since 1985, when it was equal to 9.2%," said the Italian agency, "Aki".

The Italian National Institute of Statistics (ISTAT) said that this increase is mainly due to the trend of energy commodity prices, which rose by 50.9% on average in 2022 compared to an increase of 14.1% in 2021. He explained that “the net cost of these commodities in the year ended, due to This indicates a growth in prices for the consumer by 4.1%, and it was 0.8% in 2021.

And the statistical report stated, “On the basis of preliminary estimates, the acquired inflation, or carried over to 2023 (that is, the average growth that will occur in the year if prices remain stable until next December) is equal to 5.1%, which is much higher than that observed for 2022.” , when it was equal to 1.8%.

It is reported that Italy is one of the countries most exposed to the debt crisis in the euro area against the backdrop of the active increase in interest rates by the European Central Bank, said Marco Valli, chief economist, the country's high debt refinancing needs, and the potentially difficult political environment, made the country More prone to sell-offs in the bond markets.

Italy's borrowing cost has risen sharply since the European Central Bank started raising interest rates last summer, and 10-year bond yields exceeded 4.6% in December, up 4 times from last year. In addition, Italy's public debt remains among the highest. In Europe, it accounts for just over 145% of GDP.
Source: The Seventh Day website