Italy Inflation May 2020


Italy: Consumer prices record greatest drop since October 2016 in May

June 15, 2020

Consumer prices fell 0.10% in May over the last month, swinging from April's 0.10% rise. May's result marked the sharpest fall in prices since February. The result was driven by moderating price pressures for food and non-alcoholic beverages. Prices for utilities fell at a more modest pace.

Consumer prices fell 0.1% on an annual basis in May, a sharper fall than April’s flat reading. May's reading was the largest fall in consumer prices since October 2016. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 0.3% in May (April: 0.4%). Lastly, core inflation rose to 0.9% from April’s 0.8%.

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 Chart

Italy Inflation May 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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