Italy will fight rising prices with new price watchdog figure, according to Deputy Economic Development Minister Sergio D'Antoni.
The ombudsman will monitor the prices in the country and will keep a look out for unjustified hikes. The new figure will work with the Chambers of Commerce, the tax police and the Antitrust authorities in Italy.
The name of the person who will become 'Mr Prices' has still to be announced.
Italian tax police are already working on overpricing. Inspectors conducted 3,300 price checks between November and December 2007 and found 440 cases of irregularities.
Most these were in the way the price tags were displayed to the customers.
The Italian National Statistics Institute ISTAT registered a 7.6% rise in the price of milk, a 12.3% rise in the price of bread and a 8.4% increase for pasta in December 2007.
Italian consumer rights organisation Codacons announced that, compared to 2003, Italians spend 750 euros ($1,096) more on petrol per year and 1,000 euros ($1,462) more on diesel fuel.
