Italy Inflation August 2020

Italy

Italy: Pace of decline in annual prices sharpens in August

September 1, 2020

Consumer prices rose 0.3% month-on-month in August, contrasting July’s 0.1% dip. The figure mainly reflected higher prices for services related to transport and for services related to recreation—mainly due to seasonal factors.

Meanwhile, prices were 0.5% lower from the same month of the previous year, a slightly sharper drop than July’s 0.4% decline and the lowest reading since June 2016.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, jumped 0.4% from the previous month in August, following July’s flat reading. Meanwhile, core inflation ticked down from 0.4% in July to 0.3% in August, while harmonized prices fell 0.5% compared the same period of 2019, contrasting July’s 0.8% increase.

FocusEconomics panelists also expect harmonized prices to dip, on average, 0.1% in 2020, which is down 0.2 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 0.8%.


Author: Massimo Bassetti, Senior Economist

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Italy Inflation August 20 20

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).


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