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Most shops in Italy open from 9.00 to 12.30 and from 15.30/16.00 to 19.30/20.00 and will usually close on Monday mornings.
Shops in the large town centres such as Milan and Rome will stay open during lunch time but otherwise streets empty out during the lunch break as Italians go home to eat or look for something to eat in one of the bars or restaurants nearby.
Supermarkets and shopping malls stay open all day from 9.00 to 21.00/22.00 six days a week, although some are now starting to open on a Sunday as well.
There are often special Sunday openings for all shops in the run up to Christmas or on special occasions.
Public Offices may close some or all afternoons so it is really best to check before you go and are disappointed.
On the other hand, they are often open on Saturday mornings.
Post office hours vary but in general they are open Monday to Saturday and usually close early on the last day of the month or the day before a public holiday.
Banking hours can vary slightly but in general are from 8.30 to 13.30 and from 14.30 to 16.00 from Monday to Friday. They may close earlier on the day before a public holiday.