European countries are struggling with higher energy costs driven by the war in Iran, and fear that increased costs will put delicate growth at risk and stoke inflation.
In September, inflation increased at a faster pace across the major eurozone economies. And in Italy, it jumped from 3.2% to 4.1%, according to the Italian Institute of Statistics’ preliminary data.
“I am writing to President von der Leyen to ensure that the issue is addressed at the Ecofin meeting to be held next week in Luxembourg, and then, of course, at the next European Council, which is in two weeks,” Meloni said.
Gasoline prices have been the biggest political issue in Italy for weeks, putting the government in trouble. Political parties are already getting on a campaign footing ahead of a national election next year.
Italy’s government overspends its income by the equivalent of more than 3% of its GDP, breaching EU fiscal targets. Meloni’s government plans to meet the 3% target next year, after failing to do so this year.
Several other countries also run above or close to the 3% threshold and Meloni may find she has allies in the European Council in her fight for more flexibility.