Italy To Compensate Poorest Households For High Energy Prices Amid Inflation Surge- Draghi

Italy to Compensate Poorest Households for High Energy Prices Amid Inflation Surge- Draghi

Italy will provide additional assistance to the poorest in the country to mitigate the impact of soaring energy prices amid the highest surge of inflation since 2008, Italian Prime Minister Mario Draghi said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 30th November, 2021) Italy will provide additional assistance to the poorest in the country to mitigate the impact of soaring energy prices amid the highest surge of inflation since 2008, Italian Prime Minister Mario Draghi said on Tuesday.

"We are intervening in the (2022) budget law and we are ready to keep doing so, with particular attention on the weakest groups (of society)," Draghi said as quoted by Italy's national newswire ANSA.

Earlier in the day, Italy's national statistics bureau published a report saying that the country's annual inflation rate rose to 3.8% this month, driven by higher energy prices and breaking the record of 2008.

European power prices have been breaking records since late September, as the region is back at the epicenter of the pandemic. The economy could take a hit as restrictions are tightened in some countries even as household budgets are constrained by inflation.