The ongoing war in Iran and the rest of the Middle East and the blockade of the Strait of Hormuz risk causing a new spike in consumer prices in Italy, Bank of Italy Governor Fabio Panetta said Friday.
"The ongoing conflicts risk fueling a new price spike," said Panetta, speaking at the conference "The Gold of Naples.
Devotion, Money, and Trust" at the National Archaeological Museum of Naples.
"The Governing Council of the European Central Bank is closely monitoring the evolution of the geopolitical situation, with a specific objective: to avoid the resurgence of an inflationary spiral like the one that affected all of us between 2021 and 2023," he said.
