Italy: Harmonized inflation drops in May
Latest reading: Harmonized inflation edged down to 1.7% in May, following April’s 2.0%. May’s result marked the weakest inflation rate since January. The reading was primarily due to a softer rise in prices for food and non-alcoholic beverages. In addition, price pressures for transportation dropped at a quicker pace, and prices for recreation grew at a more subdued pace.
The trend pointed up mildly, with annual average harmonized inflation coming in at 1.5% in May (April: 1.4%). Meanwhile, consumer price inflation fell to 1.6% in May from April’s 1.9%.
Finally, harmonized consumer prices fell 0.08% from the previous month in May, contrasting the 0.40% rise logged in April. May’s result marked the weakest reading since January.