Italy's ravaged economy continues to suffer under high inflation rates, according to data released Friday.
Istat, the Italian statistics agency, released second estimate figures showing year-on-year inflation staying at 3.6 per cent for July, unchanged from the month before. The first estimate had come in
at 3.7 per cent. Month-on-month rates showed a drop of 1.7 per cent.
Consumer price inflation was also on the rise for July, with data showing prices 3.1 per cent higher than in July 2011. But that was a decrease from June, when the annual data came in at 3.3 per cent.
The European Central Bank strives for an inflation rate of 2 per cent in Europe.