Italy Inflation June 2017

Italy

Italy: Inflation continues to drop in June

July 14, 2017

According to revised 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 unprocessed food—especially fresh fruit and vegetables—and non-regulated energy products, which more than offset higher prices for services related to 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%.

FocusEconomics Consensus Forecast panelists expect inflation of 1.0% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect inflation to average 1.2%.


Author: Massimo Bassetti, Economist

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Italy Inflation Chart


Italy Inflation June 2017 1

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).


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