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Italy Inflation August 2023

Italy: Harmonized inflation falls to over one-year low in August

Harmonized inflation came in at 5.5% in August, which was down from July’s 6.3%. August’s reading represented the weakest inflation rate since January 2022. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a more moderate pace in August, while prices for transportation rebounded. Meanwhile, housing and utilities price growth moderated.

Annual average harmonized inflation fell to 9.1% in August (July: 9.5%). Meanwhile, consumer price inflation fell to 5.4% in August, from July’s 5.9%.

Lastly, harmonized consumer prices rose 0.14% over the previous month in August, contrasting July’s 1.51% fall.

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