Italy's Inflation At Fastest Since 2002 In July

Italy's inflation rate climbed to the highest level in more than six years in July as food and gasoline costs continued to rise.

Consumer prices calculated by European Union standards gained 4.1 percent from a year earlier, the most since the index was created in January 2002, from 4 percent last month, the Rome-based national statistics office said today. Consumer prices fell 0.5 percent from June.



The breakdown of the index showed transport costs, which include gasoline, gained 0.9 percent from June. Housing costs, which include utility payments, rose 1.5 percent in the month and food prices grew 0.2 percent. Bread prices surged 13 percent in the year, while pasta prices increased 25 percent and milk was up 11 percent,