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Financial News: Italy Inflation Accelerates More Than Expected

Italy Inflation Accelerates More Than Expected

05/31/2018 - 06:43:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation accelerated at a faster-than-expected pace in May, preliminary estimate from the statistical office Istat showed Thursday.

Consumer price inflation rose to 1.1 percent in May from 0.5 percent in April. Prices were expected to increase by 0.8 percent.

Core inflation that excludes energy and unprocessed food, climbed to 0.8 percent from 0.5 percent.

On a monthly basis, consumer prices went up 0.4 percent in May, faster than the expected rise of 0.2 percent.

The EU measure of inflation, based on the Harmonized Index of Consumer Prices, accelerated to 1.1 percent from 0.6 percent a month ago. This was also above the consensus of 0.9 percent.

Month-over-month, the HICP climbed 0.4 percent versus the expected gain of 2.2 percent.

In an another report, Istat revealed that the unemployment rate remained stable at 11.2 percent in April. Meanwhile, the rate was forecast to fall to 10.9 percent.

In April, unemployed people totaled 2.93 million, up 0.6 percent over the previous month.

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