Prices can vary considerably depending on where you live. All the tourist areas and the main cities, especially in the North of Italy are more expensive than smaller towns.
 

The approximate prices of some items are listed below (in Euro):

Milk: 1.60 / Litre
Bread: 1.50 - 2.50 / Kilo
Butter: 1.70 / 250 gr.
Beef: 9.00 / 19.00 / Kilo
Chicken: 8.00 / 10.00 /Kilo
Rice: 1.70 / 2.50 / Kilo
Pasta: 0.80 / 1.20 /Kilo
Mineral water: 0.50 / 0.80 /Litre
Cinema: 4.50 - 7.50
Fast food menu: 5.50

Considering accommodation, food, telephone, local travel and leisure costs, students should consider a monthly budget of 700/900 Euro depending on the location.