Italy: Inflation ticks down in June
Consumer prices rose a revised 0.1% month-on-month in June (previously reported: +0.2% month-on-month), following May’s flat reading, according to revised data released by the National Statistical Institute (ISTAT) on 16 July. The figure reflected higher prices for services related to transport, which were affected by seasonal factors, more than offsetting lower prices for unprocessed food, and for non-regulated energy products—which were pushed down by a high-base effect. Meanwhile, inflation came in at a revised 0.7% in June (previously reported: 0.8%), down from May’s 0.8%.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.2% from the previous month in June, contrasting May’s 0.1% dip. Meanwhile, core inflation was stable at May’s 0.4%, while harmonized inflation declined to 0.8% from May’s 0.9%.