Italy Inflation July 2021

Italy

Italy: Inflation hits over four-year high in July

July 30, 2021

According to a preliminary reading, consumer prices increased 0.29% over the previous month in July, picking up from June's 0.10% rise. The print largely reflected stronger price pressures for housing and utilities as well as for transport.

Inflation came in at 1.8% in July, which was up from June’s 1.3%. July's reading marked the highest inflation rate since April 2017. Annual average inflation rose to 0.4% in July (June: 0.3%). Lastly, harmonized inflation fell to 0.9% in July, from the previous month's 1.4%.

FocusEconomics panelists expect harmonized inflation to average 1.2% in 2021, which is up 0.1 percentage points from the previous month’s projection. For 2022, panelists expect harmonized inflation to average 1.0%.


Author:, Economist

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Italy Inflation July 2021

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


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