Italy Inflation June 2020


Italy: Pace of decline in annual prices sharpens in July

July 31, 2020

Consumer prices inched down 0.1% month-on-month in July, contrasting June’s 0.1% uptick, according to preliminary data released by the National Statistical Institute (ISTAT). The figure mainly reflected lower prices for food and non-alcoholic beverages and utilities.

Meanwhile, prices were 0.3% lower from the same month of the previous year, a slightly sharper drop than June’s 0.2% decline and the lowest reading since June 2016.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.1% from the previous month in July, matching June’s rise. Meanwhile, core inflation ticked down from 0.7% in June to 0.5% in July, while harmonized prices rose 0.9% compared the same period of 2019, contrasting June’s 0.4% drop.

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 Chart

Italy Inflation July 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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