Italy: Inflation drops in May
June 15, 2017
According to revised data released by the National Statistical Institute (Istat), consumer prices dropped 0.2% on a monthly basis in May, contrasting April’s 0.4% increase. The figure mainly reflected lower prices for services related to transport and recreation, the decrease in which was due to a high base of comparison, as Easter and Liberation day were celebrated in April this year. Meanwhile, inflation came in at a four-month low of 1.4% in May, decelerating from April’s 1.9% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, declined 0.2% in May on a monthly basis, contrasting April’s 0.6% increase. Core inflation was 0.7% in May, below April’s 1.1%. Finally, harmonized inflation came in at 1.6%, down significantly from April’s 2.0%