July inflation confirmed at 4.1%, prime necessities up 6.1%

National statistics bureau Istat on Monday definitively confirmed that Italy's year-on-year inflation rate hit a 12-year high of 4.1% in July while prices for goods mostly commonly acquired were up 6.1%.
The increase in the cost of living index from June to July was 0.5%.
Italy's annual inflation rate in June stood at 3.8%, while the year-on-year hike in priced most purchased was 5.8%.
These prime necessities include food, fuels, non-durable goods, home products, urban transport and rent.
Istat's confirmation of the jump in inflation prompted the consumers' group Codacons to predict that ''we're going to have a very bleak September''.
''The fact that, after months of steep price hikes, prices rose an additional 0.5% over June is a clear indication that the upward spiral is in no way subsiding,'' observed Codacons Chairman Carlo Rienzi.
The only way to stem the upward trend in prices, he added, was for the government to ''block speculation not only in the food sector but also in regard to transport''.
The 6.1% inflation rate for prime necessities is driving many Italian families to the brink of bankruptcy, Rienzi said, and thus a law is needed ''to allow impoverished families to file for personal bankruptcy and thus obtain protection creditors, much the same way businesses can''.
''Something needs to be done before the end of the summer, otherwise September will be devastating and send many Italians to the poor house,'' Rienzi warned.
Aggravating inflation again in July were the soaring costs of pasta and bread along with runaway prices for fuels plus higher holiday costs.
Pasta prices were up 25% on July 2007 - the third straight month they rose by more than 20%.
Bread cost 13% more, the same rise as May and June.
Energy prices in general rose 16.6% over July of last year, compared to a 14.7% hike in June.
Diesel was 31.4% dearer than July 2007 after rising 31.1% in June while petrol prices were 12.5% up for the year.
Seaside beach clubs were found to be 8% dearer this July compared to 9% in June.
Package holidays were 5% up and camping holidays 4% up.