Italy: Inflation jumps to an over one-year high in June
July 17, 2018
According to revised data released by the National Statistical Institute (ISTAT) on 17 July, consumer prices rose 0.2% month-on-month in June (previously reported: +0.3% month-on-month), marginally down from May’s 0.3% increase. The figure mainly reflected higher prices for non-regulated energy products and transport, which were partially offset by lower prices for communications. Meanwhile, inflation came in at a revised 1.3% in June (previously reported: 1.4%), above the previous month’s 1.0% print and the highest figure in over a year.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.2% month-on-month in June, slightly above May’s 0.1% rise. Meanwhile, core inflation was 0.8% in June, mirroring May’s print. Finally, harmonized inflation increased to 1.4% in June (May: 1.0%).
Italy Inflation Forecast
FocusEconomics Consensus Forecast panelists expect harmonized inflation of 1.4% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect harmonized inflation to average 1.5%.