Italy: Inflation hits over one-year high in July
July 31, 2018
According to provisional data released by the National Statistical Institute (ISTAT) on 31 July, consumer prices rose 0.3% month-on-month in July, up from June’s 0.2% increase. The figure mainly reflected higher prices for non-regulated energy products and services related to recreation, which were partially offset by lower prices for unprocessed food. Meanwhile, inflation came in at 1.5% in July, above June’s 1.3% print and the highest figure in over one year.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.2% month-on-month in July, matching June’s rise. Meanwhile, core inflation inched down to 0.7% in July, from June’s 0.8%; while harmonized inflation rose to 1.9% (June: 1.4%).
Italy Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation of 1.4% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect inflation to average 1.5%.