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Financial News: Italy Inflation Eases More Than Forecast

Italy Inflation Eases More Than Forecast

05/31/2017 - 07:15:00 (RTTNews)

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

The consumer price index rose 1.4 percent year-over-year in May, slower than the 1.9 percent climb in April. Economists had expected the inflation to moderate to 1.5 percent.

Excluding energy and unprocessed food, core inflation eased to 0.8 percent in May from 1.1 percent in the prior month.

On a monthly basis, consumer prices edged down 0.2 percent in May, in line with expectations.

The EU measure of inflation, based on the Harmonized Index of Consumer Prices, climbed at a slower pace of 1.5 percent annually in May, following a 2.0 percent increase in the preceding month.

Monthly, the HICP dropped 0.2 percent in May as expected by economists.

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