ROME, Nov. 15 (Xinhua) -- In October, Italian consumer price index (CPI) increased by 1.7 percent on an annual basis, down from 5.3 percent in September and far below the peak of 11.9 percent in late 2022, Italy's National Institute of Statistics (ISTAT) said on Wednesday.
The slowdown of the annual inflation rate was mainly due to the drop in prices of energy products and food, according to the agency.
The start of the conflict between Russia in Ukraine in early 2022 sent global energy prices skyrocketing, causing a pronounced impact on Italy.
This October was the first month in the Italian government's "anti-inflation quarter." The government has worked out a series of measures to artificially reduce consumer prices on a basket of basic necessities. The measures will remain in effect till at least the end of the year.
