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Inflation rises to highest level since 2008

Jobless stable, but 'no recovery'

31 August, 13:23
Inflation rises to highest level since 2008 (ANSA) - Rome, August 31 - Italy's inflation rate has risen to its highest level in nearly three years, but the country's unemployment rate was steady in July, according to figures released on Wednesday.

The government statistics agency, Istat, on Wednesday showed that inflation rose to 2.8% in August from 2.7% in July.

It was the highest inflation rate recorded since October 2008.

According to Istat, the number of jobless barely changed - falling 0.3 points to 8% in July, compared to the same month in 2010.

"The dramatic job losses caused by the crisis have stopped," Istat officials said. "But there is no sign of a recovery". More than two million Italians were jobless in July, according to the figures.

There was a small increase in new jobs - 36,000 more positions were created in July and 88,000 more compared to July 2010. Coldiretti, the national farmers' association, said consumers were spending more money on transport and fuel than they were on food and drinks.

It said Italians were spending more than 19% of their household income on transport, fuel and energy costs while spending on bread, pasta, meat and fish had fallen significantly.

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