Another area where we have seen less progress is food price inflation— especially compared with inflation of other goods. Prices here have continued to increase despite most agricultural commodity prices being well below their pandemic highs. To make meaningful progress toward our inflation target, we need to see threemonth rates of inflation come down even further and be sustained.
Antonio Fazio: A brief look at the economy in Southern Italy and accounting practices Address by Mr Antonio Fazio, Governor of the Bank of Italy, to the Otranto City Council, Castello Aragonese, 25 September 2004.