To combat inflation, the Italian government is considering abolishing VAT on bread and pasta. For meat and fish this can be from ten to five percent. Inflation is at its highest level since 1986, according to Italian Economy Minister Laura Castelli.
This weakens the purchasing power of the population. “We are assessing the impact and costs of these measures (…). We believe that the VAT on medicines and baby products should also be reduced,” Castelli told Radio 24. First of all, the cabinet is investigating the possibility of abolishing the VAT on bread and pasta and reducing it from ten to five percent for meat and fish.
Consumer prices rose by 8.5 percent
The neighboring country wants to take action against inflation or rising prices. Compared to the same month last year, consumer prices rose by 8.5 percent in June. Inflation is the highest since the introduction of the euro as book money in 1999. In May inflation was 7.3 percent.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
