Italian commodities prices index hits new record

Commodities prices in Italy rose to record highs in March, mainly due to the rising cost of fuel and metals, according to an index of commodities prices from the country's biggest business group, Confindustria.
The index of prices in euros gained 1.5 percent from 326.31 in February to 331.39 in March, its highest level since the index was created in 1977, it said.
On global markets, commodities prices have climbed to new peaks amid fears over a nuclear stand-off in Iran and the impact of surging economic growth in China.
In Italy, fuel costs, which make up 55.1 percent of the weighting of the index, increased 2.3 percent from February to 446.47 in March, slightly below a record 446.63 recorded in August 2005, Confindustria said.
Metals prices hit a record 283.79 against 278.86 the previous month.