Italy: Annual consumer prices rebound in May
June 15, 2015
Consumer prices rose 0.1% in May over the previous month, which was slightly below the preliminary estimate of 0.2% released by the National Statistical Institute on 29 May. May’s print came in just below the 0.2% increase tallied in April and was in line with market expectations. The mild increase mainly reflected higher prices for energy products and services related to recreation. In annual terms, consumer prices increased 0.1% in May, which contrasted April’s 0.1% fall and marked the highest reading in six months.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.1% over the previous month in May and came in below the 0.3% increase recorded in April. Core inflation increased from April’s 0.3% to 0.6% in May. Finally, annual harmonized consumer prices increased by 0.2% in May, which contrasted the 0.1% decrease observed in April.
Author: Eric Denis , Economist