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Italy Inflation July 2019

Italy: Inflation slows to 15-month low in July

Consumer prices were unchanged from the previous month in July (previously reported: +0.1% month-on-month), following June’s 0.1% uptick, according to revised data released by the National Statistical Institute (ISTAT) on 9 August. The result reflected lower prices for regulated and non-regulated energy products, as well as for unprocessed food which offset higher prices for services related to recreation, and for services related to transport. Meanwhile, inflation came in at a revised 0.5% in July (previously reported: 0.4%), down from June’s 0.7% and marking the lowest reading since April 2018.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.3% from the previous month in July, following June’s 0.2% increase. Meanwhile, core inflation ticked up from June’s 0.4% to 0.5%, while harmonized inflation fell to 0.3% from June’s 0.8%, the lowest record since December 2016.

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