Italy's inflation hits a 38 year high in October

Here's the chart:

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The surge is down to energy costs. The Italian statistical agency ISTAT said energy price inflation leapt to 73.2% from 44.5% the month before.

This is the result of the summer spike in natural gas prices, which got passed to consumers with a delay of a month or two.

Natural gas prices have slumped because of the mild autumn, but that won't be passed on to consumers for a few months.