Italy: Annual drop in consumer prices hardens in June
June 30, 2016
According to provisional data released by the Italian Statistical Institute (ISTAT), consumer prices grew 0.1% over the previous month in June, which was down from May’s 0.3% growth. The result slightly undershot market expectations of a 0.2% increase. The figure was due mainly to an increase in the prices for non-regulated energy products and for services related to recreation. Consumer prices dropped 0.4% in June on an annual basis, which was down from May’s 0.3% fall.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, recorded a flat reading in June on a monthly basis, which was down from May’s 0.2% increase. Core inflation was 0.5% in June (May: 0.6%). Finally, harmonized consumer prices fell 0.3% over the same month last year, which was in line with May’s result.