Italy Inflation May 2020


Italy: Annual prices fall for first time in over three years in May

May 29, 2020

Consumer prices inched down 0.1% month-on-month in May, contrasting April’s 0.1% uptick, according to preliminary data released by the National Statistical Institute (ISTAT). The figure mainly reflected a sharper fall in prices of non-regulated energy products.

Meanwhile, prices were 0.1% lower from the same month of the previous year, which follows April’s flat reading and represent the lowest reading since October 2016.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, were unchanged from the previous month in May, following April’s 0.7% jump. Meanwhile, core inflation inched up from 0.8% in April to 0.9% in May, while harmonized prices declined 0.2% compared the same period of 2019, contrasting April’s 0.1% inflation.

FocusEconomics panelists also expect harmonized prices to dip, on average, 0.1% in 2020, which is down 0.2 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 0.8%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation May 20 20

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

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