Italy: Inflation speeds up in August
August 31, 2012
According to a preliminary estimate released by Istat on 31 August, consumer prices rose 0.4% over the previous month in August, which was above the 0.1% increase recorded in July. Higher prices for transport as well as for communications were the main drivers of the monthly increase. As a result of the monthly reading, annual inflation inched up from 3.1% in July to 3.2% in August. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, also rose 0.4% over the previous month, up from the 0.3% increase recorded in July. Despite the monthly pick-up, annual core inflation inched down from 2.2% in July to 2.1%. Finally, annual average HICP inflation inched up from 3.5% in July to 3.6%.
Author: Armando Ciccarelli, Head of Data Solutions