Italy Inflation June 2016


Italy: Annual drop in consumer prices sharpens in June

July 13, 2016

According to revised 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% increase. Revised data confirmed the provisional figures. The result matched market expectations. An increase in the prices for services related to recreation and non-regulated energy products was primarily behind the result. 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 and marked the lowest reading in four months. Core inflation was 0.5% in June (May: 0.6%). Finally, harmonized consumer prices fell 0.2% over the same month last year, which was marginally up from May’s 0.3% drop.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.1% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, panelists expect inflation to average 1.2%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation June 2016 4

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).

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