Italy Inflation June 2020


Italy: Pace of decline in annual prices stable in June

June 30, 2020

Consumer prices inched up 0.1% month-on-month in June, contrasting May’s 0.2% dip, according to preliminary data released by the National Statistical Institute (ISTAT). The figure mainly reflected a sizable increase in prices of services related to transport, which were affected by seasonal factors.

Meanwhile, prices were 0.2% lower from the same month of the previous year, matching May’s drop which had marked the lowest reading since October 2016.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.1% from the previous month in June, contrasting May’s 0.1% decline. Meanwhile, core inflation inched down from 0.8% in May to 0.7% in June, while harmonized prices declined 0.4% compared the same period of 2019, following May’s 0.3% decrease.

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 June 20 20 0

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

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