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.