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