Residential housing in the village of Montieri, Italy. Italian inflation surged to the highest in three decades as energy prices continued to rise following Russia’s invasion of Ukraine. Prices increased 7% in March from a year earlier, statistics office Istat said Thursday. That’s the fastest pace since 1991. Rising prices and the ongoing conflict are impacting the economy with Finance Minister Daniele Franco saying last week that Italian growth is set for a potentially significant downgrade. The European Commission currently predicts a 2022 expansion of 4.1%, though economists see just 3.3%. The government has spent more than 16 billion euros ($17.6 billion) on cushioning the impact of rising energy costs on families and businesses, and recently passed further measures including a tax cut on fuel prices at the pump. The Treasury is set to release its new budget plan soon and growth and deficit goals may be reviewed. With […]