Inflation up to 12-year high

| Mon, 03/31/2008 - 06:22

Italy's inflation rate jumped from 2.9% in February to 3.3% in March, the highest since September 1996, national statistics bureau Istat said in its monthly preliminary estimate Monday.

Bread, pasta and fuel continued to post hefty gains.

Petrol was 13.2% dearer than March 2007. Diesel prices were 20.2% higher. Home heating fuel was 21% up.

Pasta cost 17% more than a year ago. Bread was 13.2% dearer. The cost of dairy products and eggs was 8% up with milk alone posting a 10.5% rise.

Fruit was up 5.8% and vegetables 4.2% up.

Beef was 4% dearer than a year ago and poultry prices 5.9% up.

Overall, food costs were 5.5% higher than March 2007.

Transport costs were 5.8% up.

The month-on-month rise in the consumer price index was an unusually high 0.5%, Istat said.

The definitive figures, which are usually very close to the preliminary estimates, will be issued in mid-April.

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