Italy: Inflation continues to drop in June
June 29, 2017
According to provisional data released by the National Statistical Institute (Istat), consumer prices declined 0.1% on a monthly basis in June, a smaller drop than May’s 0.2% decrease. The figure mainly reflected lower prices for food and non-alcoholic beverages and for communication, which more than offset higher prices for restaurants and hotels and transport. Meanwhile, inflation came in at a five-month low of 1.2% in June, decelerating from May’s 1.4% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.2% in June on a monthly basis, contrasting May’s 0.2% drop. Core inflation was 0.9% in June, above May’s 0.7%. Finally, harmonized inflation came in at 1.2%, down significantly from May’s 1.5%.