The Bank of Italy has revised its inflation estimates downwards, which will "decrease sharply in 2024", to 1.3% (last December it forecast 1.9%). "The strong reduction in inflation in the current year would mainly reflect the negative contribution of the prices of intermediate goods and energy, only partly offset by the acceleration of wages (expected to increase by approximately 3.5 percent per year on average over the three-year period 2024-26).
Core inflation would fall to 2% on average this year and would further reduce over the next two years", writes Bank of Italy.
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