3/4  BIS central bankers' speeches  The prospects for the Italian economy have been improving gradually but steadily in the last three years; the moderate recovery is a testimony to the effectiveness of the policies put in place, but also to the need for further intervention.
  Third, mineral oils and metals (weight in WPI: 15.3 per cent): Prices of this group of commodities are largely determined by international prices and the volatility in headline WPI inflation in recent years can largely be attributed to fluctuations in the international prices.