Italy: Inflation hits over one-year high in July
According to a second estimate released by the National Statistical Institute (ISTAT) on 13 August, consumer prices rose 0.3% month-on-month in July, up from June’s 0.1% increase and confirming preliminary data. 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. Core inflation, however, inched down from June’s 0.8% to 0.7% in July, while harmonized inflation rose to 1.9% (June: 1.4%).