Italy Inflation


Italy: Inflation eases to lowest rate in five years

August 12, 2014

According to more detailed data for July, consumer prices fell 0.1% over the previous month, which contrasted the 0.1% increase recorded in June. The mild decrease met the preliminary estimate and was driven by lower prices for regulated energy products. Annual inflation fell from 0.3% in June to 0.1% in July, which marked the lowest rate since July 2009.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.1% in July over the previous month. This mirrored the increase recorded in June. Annual core inflation inched down from 0.7% in June to a record-low of 0.6% in July. Finally, annual HICP inflation averaged a record-low 0.6% in July, which was slightly down from the 0.7% recorded in June.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.6% in 2014, which is down 0.1 percentage points from the previous month’s projection. For 2015, panelists expect inflation to average 1.0%.

Author:, Senior Economist

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Italy Inflation Chart

Italy Inflation July 2014

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

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