Italy: Inflation continues to drop in July
July 31, 2017
According to provisional data released by the National Statistical Institute (Istat), consumer prices increased 0.1% on a monthly basis in July, contrasting June’s 0.1% decrease. The figure mainly reflected higher prices for services related to transport and recreation, including repair and personal care, which more than offset lower prices for food and alcoholic beverages and energy. Meanwhile, inflation came in at a six-month low of 1.1% in July, decelerating further from June’s 1.2% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.3% in July on a monthly basis, up from June’s 0.2% increase. Core inflation was 0.8% in July, marginally below June’s 0.9%. Finally, harmonized inflation came in at 1.2%, matching June’s reading.