- Consumer prices have increased by 0.8 percent every month, speeding up from the 0.4 percent rise in July
- Bitstamp, Crypto.com, and Coinbase have received approval for their services in Italy.
According to current trend happens, there has been widespread inflation all around the world. The recent data, Italy has had its greatest rate of inflation, at 9%, when compared to the previous months.
The initial projections, the annual Inflation rate in Italy had increased to 9 percent in August 2022, the highest level in more than 36 years, up from 7.9 percent in July and far higher than forecasts of 8.1 percent. Consumer prices likely increased by 0.8 percent every month, speeding up from the 0.4 percent rise in July.
Inflation Rates in Different Sectors August
Inflation has occurred across a variety of industries, including food and non-alcoholic drinks (16% of total weight), transportation (15%), dining and accommodation (12%), housing (10%), water and electricity and other fuels (10%).
And other goods and services (10 percent). The index includes the following categories: health (9%), entertainment and culture (8%), apparel and footwear (7%), and furniture and domestic equipment (7%). Tobacco, alcoholic beverages, communication, and education account for the remaining 6%.
David Ingles host in Bloomberg tweeted that:
Goodness. Italy’s inflation rate in August came in at a record-high 9%, above even the highest forecast (8.5%) from economists pic.twitter.com/h9HS3UZQBw
— David Ingles (@DavidInglesTV) August 31, 2022
Many exchanges like Bitstamp, Crypto.com, and Coinbase, have received acceptance for their services even though this Inflation has been happening in Italy for some months.
Additionally, the current Inflation in several countries and the Cryptocurrency Market’s recent bearish signals have had a small impact on the markets that trade Cryptocurrencies.