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Italy Inflation May 2023

Italy: Harmonized inflation falls to lowest level since May 2022 in May

Harmonized inflation came in at 7.9% in May, which was down from April’s 8.6%. May’s figure represented the weakest inflation rate since May 2022. The moderation was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities.

The trend was unchanged, with annual average harmonized inflation coming in at April’s 9.8% in May. Meanwhile, consumer price inflation fell to 7.6% in May, from the previous month’s 8.2%.

Lastly, harmonized consumer prices rose 0.35% from the previous month in May, coming in below the 0.84% rise recorded in April. May’s result marked the weakest reading since February.

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