Italy: Inflation picks up in May from April
Latest reading: Harmonized consumer prices increased 3.2% on a year-on-year basis in May, following a 2.8% rise in the previous month. May’s reading was the strongest since September 2023.
Relative to the previous month’s data, there were higher price pressures for transportation (+5.5% in annual terms vs +3.8% in April), housing and utilities (+5.8% vs +5.1% in April) and restaurants and hotels (+3.4% vs +2.8% in April). In contrast, there were milder price pressures for food and non-alcoholic beverages (+2.5% vs +3.0% in April) and recreation (+1.4% vs +1.6% in April).
Meanwhile, consumer prices rose 3.2% on a year-on-year basis in May, following a 2.7% rise in the prior month.
Finally, harmonized consumer prices rose 0.29% in May on a month-on-month basis, following a 1.57% increase in the previous month.