Italy: Annual drop in consumer prices remains stable in August
September 14, 2016
According to revised data released by the Italian Statistical Institute (ISTAT), consumer prices grew 0.2% over the previous month in August, which was in line with July’s reading. The figure was due mainly to an increase in prices for transport and for services related to recreation and culture.
In annual terms, consumer prices dropped 0.1% in August, matching the previous month’s result, which was the highest in six months.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.2% in August on a monthly basis, which was down from July’s 0.4% and marked the lowest result since April 2015. Core inflation was 0.4% in August (July: 0.6%). Finally, harmonized consumer prices fell a revised 0.1% over the same month last year (previously reported: 0.0%), which was up from July’s 0.2% drop.
Author: Andrea Vetrugno, Economist