The Consumer price inflation in Italy attained a value of 1.87 % in 2021
The indicator recorded a historical change (bps difference) of 73 bps between 2018 to 2021, and is expected to decline by...
GlobalData projects the figure to change by 446 bps between 2022 and 2026, reaching...
Inflation
Inflation is an upsurge in the level of prices of the goods and services in an economy, which leads to a decline in the purchasing power of the currency’s value. It is calculated as the rate of change in prices in a specific period. The consumer price index (CPI) is one of the most common indicators for measuring inflation in an economy.
Global Inflation
Global inflation is a measure of the average annual rate of growth increase in national prices across all countries. It can be calculated using various methods including simple average, weighted average, and median price change. Global Data forecasts that the world economy will grow at a slower pace of 3.5% in 2022 following a 5.9% growth in 2021. On the other hand, the global inflation rate is projected to rise to 6.5% in 2022 from 3.5% in the previous year due to supply chain disruption amid the Ukraine-Russia war.
Consumer Price Inflation in Italy
Between 2018-2021, the consumer price inflation in Italy was highest in the year 2021, reaching 1.9%, a decrease of 13.4% over the previous year 2020. Between 2018 to 2021, Italy’s consumer Inflation increased by 0.6%.
In 2020, the country moved into deflation at 0.14%, according to GlobalData estimates, which is below the ECB’s target of 2%. The decline in inflationary pressure was primarily because of the collapse in crude oil prices and lower demand for goods and services due to lockdown restrictions. In 2021, the rise in food and beverage prices drove up inflation to 1.13% 2021, according to GlobalData.
And GlobalData also expects inflation to stay at an average annual rate of 1.05% over the period of 2021–2023.
Factors that Impact Inflation Rate
Some of the major factors affecting consumer prices are government policies, money supply, consumer spending, employment levels, high disposable income, and wage levels. Interest rates can also have a significant impact on spending on consumer goods.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer
Contact the team or request a demo to find out how our data can drive your business forward