Tag: Worldwide

The government blocked announced price hikes for public utilities Friday in an attempt to calm consumer outrage over inflation. A decree passed during a Cabinet meeting freezes the tariffs of electricity, gas and postal services until Nov. 30, said European Affairs Minister Rocco Buttiglione. Preliminary figures released this week by the Italian national statistics bureau Istat showed consumer prices rose 0.1 percent in August, or 2.3 percent since the same period last year. Consumer groups have complained that true inflation rates are far higher. They say the basket of goods and services the government uses to monitor prices is outdated, leading to flawed figures. Premier Silvio Berlusconi has blamed price increases on the introduction of the euro. Many consumers accused retailers of rounding up prices when the new currency was introduced in January.