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