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.