Italy: Inflation up in June
June 28, 2013
In June, consumer prices rose 0.3% over the previous month, inching up from the revised flat reading recorded in May (previously reported: 0.1%). The increase was mainly due to higher prices for food and non-alcoholic beverages as well as for transport.
Meanwhile, annual inflation rose from a revised 1.1% in May (previously reported: +1.2%) to 1.2% in June.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.2% over the previous month, which was up from a 0.1% rise in May. Despite the monthly increase, annual core inflation was unchanged at May's 1.3%. Finally, annual HICP inflation averaged 2.4% in June, which was down from the 2.5% recorded in May.
FocusEconomics Consensus Forecast panellists expect inflation to average 2.1% in 2013, which is unchanged from the previous month's projection. For 2014, panellists expect inflation to average 1.8%.