‘Stabbiltà’ continues to deliver

Since the entry into force of Stabbiltà, food prices are on average back to their November level.

Figures released by the National Statistics Office show that during the month of April the inflation rate fell to 1.6%, which is half the rate observed in the first month of the year.

The inflation rate in April was the lowest rate observed since June 2021. Moreover, inflation has now fallen below the average of 1.9% recorded since March 2013.

A key factor behind this development has been the evolution of food price inflation.  Between October and January, food prices started to pick up, contrary to what happened in the rest of Europe. This led to food price inflation rising from 6.8% in October to 9.1% in January.

After Stabbiltà entered into force in early February, the trend in food prices changed. Already in February, the rate of inflation in food items fell to 5.5%. In March the rate fell to 5.1%. Then in April there was a decrease again, to 4.5%. This means that in three months the rate of food price inflation has fallen by more than half and is now close to the average observed since March 2013. The rate of food price inflation is now lower than the average observed between 2008 and 2013.

Since the entry into force of Stabbiltà, the food price index has shown a drop of almost 2% and, on average, prices are back to their November level.

Since the scheme will be retained at least until the Budget, the rate of inflation will continue to decline in the coming months.

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