Italy: Inflation eases in July from the prior month
Latest reading: Harmonized consumer prices increased 2.9% in annual terms in July, following a 3.0% increase in the previous month.
Relative to the prior month’s figures, there were reduced price pressures for food and non-alcoholic beverages (+1.3% on a year-on-year basis vs +1.8% in June), transportation (+4.3% vs +4.7% in June), housing and utilities (+7.2% vs +7.3% in June) and recreation (+0.3% vs +1.3% in June). In contrast, price pressures were higher for restaurants and hotels in July (+3.4% vs +2.8% in June).
Meanwhile, consumer prices rose 2.9% on a year-on-year basis in July, following a 3.0% increase in the previous month.
Lastly, harmonized consumer prices were down 0.97% in July on a month-on-month basis, following a flat reading in the prior month.