Italy: Harmonized inflation moderates in July
Latest reading: Harmonized inflation inched down to 1.7% in July (June: 1.8%), remaining among the lowest in the euro area. Looking at the details of the release, housing and utilities costs increased at a weaker pace, and price pressures for restaurants and hotels waned. In contrast, costs for food and non-alcoholic beverages increased at a quicker pace, and prices for transportation dropped at a milder rate.
Annual average harmonized inflation edged up to 1.6% in July (June: 1.5%). Meanwhile, consumer price inflation was steady, coming in at June’s 1.7% in July.
Finally, harmonized consumer prices fell 0.96% over the previous month in July, contrasting June’s 0.24% rise. July’s result marked the weakest reading since January 2024.