Italy Inflation August 2017

Italy

Italy: Inflation inches up in August

September 14, 2017

According to revised data released by the National Statistical Institute (Istat), consumer prices increased 0.3% on a monthly basis in August, up from July’s 0.1% increase. The monthly figure was influenced by seasonal factors as it mainly reflected higher prices for services related to recreation, culture and transport, including non-regulated energy products, which more than offset lower prices for health, clothing and footwear. Meanwhile, inflation rose for the first time after having dropped for three consecutive months and came in at a 1.2% in August, a notch up from July’s 1.1% print, mainly due to stronger annual growth in prices for energy and transport.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.4% in August on a monthly basis, up from July’s 0.3% increase. Core inflation was 1.0% in August, above July’s 0.8%. Finally, harmonized inflation came in at 1.4%, accelerating from the previous month’s 1.2% print.

FocusEconomics Consensus Forecast panelists expect inflation of 1.0% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect inflation to average 1.2%.


Author: Massimo Bassetti, Economist

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Italy Inflation August 2017

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


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