The Currency of the Italy as a whole is the Euro. Typically, prices in Florence are amongst the highest in the country, and therefore, higher than those in the UK, although similar to London. You do not need to leave a tip in a restaurant, as the rates should already include a service charge of 10-15%, although it is common practice to leave a small amount if the service is particularly good.
Florence is certainly not the cheapest city in the world when it comes to cost of living, although it is still pretty good value, and prices are roughly equivalent to the UK, with a bottle of beer costing around £2 (3 euros) and a meal in an average restaurant setting you back approximately £20 (30 euros).
