Italy Inflation Could Drop to 3.4% by Year-End, Minister Says – U.S News & World Report Money

ROME (Reuters) – Italy’s inflation rate could fall to 3.4% by the end of this year, far below the current level over 5%, thanks to measures to rein in prices of essential staple items between October and December, the industry minister said on Tuesday.

Inflation in Italy is gradually declining from peak levels but remains a headache for Prime Minister Giorgia Meloni, at a time when companies are often blamed for passing on more than the direct increase in production costs to consumers.

“I think we would be satisfied if inflation on Dec. 31 was reduced to 3.4%,” Industry Minister Adolfo Urso said in a radio interview.

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