Italy Inflation August 2020

Italy

Italy: Consumer prices post largest fall since April 2016 in August

September 15, 2020

Consumer prices rose 0.29% over the previous month in August, swinging from the 0.19% drop logged in July. August's uptick was the sharpest increase in prices since August 2019. The figure was largely due to a less pronounced fall in prices for food and non-alcoholic beverages. In addition, price pressures for transportation intensified. Prices for utilities goods also gained steam.

Consumer prices decreased 0.5% year-on-year in August, following July’s 0.4% decrease. August's result represented the largest fall in consumer prices since April 2016. Annual average inflation ticked down to 0.1% in August (July: 0.2%). Core inflation edged down to 0.3% from the previous month's 0.4%.

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, Senior Economist

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Italy Inflation August 20 20 0

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


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