{"id":1416190,"date":"2022-04-02T15:45:11","date_gmt":"2022-04-02T19:45:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1416190"},"modified":"2022-04-02T15:45:14","modified_gmt":"2022-04-02T19:45:14","slug":"italian-inflation-soars-to-levels-not-seen-since-1991-amid-russian-invasion-of-ukraine-sanctions-war","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/italian-inflation-soars-to-levels-not-seen-since-1991-amid-russian-invasion-of-ukraine-sanctions-war\/","title":{"rendered":"Italian Inflation Soars to Levels Not Seen Since 1991 Amid Russian Invasion of Ukraine, Sanctions War"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fitalian-inflation-soars-to-levels-not-seen-since-1991-amid-russian-invasion-of-ukraine-sanctions-war%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1416190&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Italian inflation rose to 6.7 per cent in March as the Russian invasion of Ukraine led to a surge in energy prices, marking the highest inflation the country has seen since July of 1991.<\/p>\n<p>Italy\u2019s statistical agency Istat released the new inflation figures this week, which show a 6.7 per cent increase in inflation, led by a 6.9 per cent rise in the price of energy goods, which has increased by 52.9 per cent compared to last year.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Other items in Italy\u2019s Consumer Price Index (CPI) have also increased in price, with food, home, and personal care goods increasing by 5 per cent in March as well, Italian newspaper<em> Il Giornale<\/em> <a href=\"https:\/\/www.ilgiornale.it\/news\/politica\/ormai-uneconomia-guerra-inflazione-ai-massimi-1991-2022584.html\">reports<\/a>.<\/p>\n<p>Italy\u2019s Prime Minister Mario Draghi, a former European Central Bank technocrat, has stated that his government will address the rising costs of goods, adjusting the Italian budget if the inflation trend is temporary and looking to make structural changes if the trend continues in the longer term.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Italy may be forced to ration gas supplies due to the country\u2019s reliance on supplies from Russia, which could lead to businesses and households not being allowed to use air conditioning this summer.<\/p>\n<p> <a href=\"https:\/\/t.co\/m9nb8pnbCK\">https:\/\/t.co\/m9nb8pnbCK<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1507864575680602112?ref_src=twsrc%5Etfw\">March 26, 2022<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>In an effort to help Italians with rising fuel costs, the government recently enacted a decree to reduce the price of petrol by 25 euro cents per litre \u2014 similar to a move that was also made by the<a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/29\/spanish-govt-to-cut-petrol-by-20-cents-in-fuel-subsidy-to-offset-rising-energy-costs\/\"> Spanish government<\/a> this week.<\/p>\n<p>Some have speculated that Italy may be forced to <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/26\/italy-may-have-to-ration-gas-due-to-russia-sanctions-war\/\">ration gas supplies<\/a>, however, as the country imports around half of its natural gas from Russia and natural gas accounts for around half of the country\u2019s total energy needs.<\/p>\n<p>While inflation is on the rise, the Italian labour market has seen an increase in its employment rate to a new record 59.6 per cent. More people are employed in the country now than before the start of the Wuhan virus pandemic.<\/p>\n<p>Ignazio Visco, Governor of Bankitalia, has warned that the ongoing Russian invasion of Ukraine could have severe economic repercussions, saying: \u201cThe Russian invasion of Ukraine is destined to produce deep social and economic wounds,\u201d and added, \u201cit could have heavy repercussions on energy supply, inflation, domestic demand and international trade.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Supermarkets Allowed to Begin Rationing, Says Spain\u2019s Socialist Government<a href=\"https:\/\/t.co\/OArcFVM3ml\">https:\/\/t.co\/OArcFVM3ml<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1509999044608724993?ref_src=twsrc%5Etfw\">April 1, 2022<\/a><\/p>\n<\/blockquote>\n<h5><span data-darkreader-inline-color=\"\"><em><strong><span class=\"a-size-large\">Follow Chris Tomlinson on Twitter at\u00a0<span data-darkreader-inline-color=\"\"><a class=\"x5l\" href=\"https:\/\/twitter.com\/TomlinsonCJ\" target=\"_blank\" rel=\"noopener external\">@TomlinsonCJ<\/a>\u00a0<\/span>or email at\u00a0ctomlinson(at)breitbart.com.<\/span><\/strong><\/em><\/span><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>Italian inflation rose to 6.7 per cent in March as the Russian invasion of Ukraine led to a surge in energy prices, marking the highest inflation the country has seen<\/p>\n","protected":false},"author":26,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1416190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1416190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1416190"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1416190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1416190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1416190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1416190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}