Italy Inflation August 2022

Italy

Italy: Harmonized inflation rises in August

September 22, 2022

Harmonized inflation came in at 9.1% in August, which was up from July’s 8.3%. August's result marked the highest inflation rate since our current records began. The rebound in price pressures was largely driven by increasing prices for food and non-alcoholic beverages. In addition, price pressures for housing and utilities increased at a quicker rate.

Annual average harmonized inflation rose to 6.0% in August (July: 5.5%). Meanwhile, consumer price inflation rose to 8.4% in August, from the previous month's 7.9%.

Finally, harmonized consumer prices increased 0.89% from the previous month in August, contrasting the 1.17% fall seen in July.

FocusEconomics panelists expect harmonized inflation to average 7.0% in 2022, which is up 0.3 percentage points from the previous month’s projection. For 2023, panelists expect harmonized inflation to average 3.4%.


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