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Financial News: Italy Inflation Slows Unexpectedly In June

Italy Inflation Slows Unexpectedly In June

06/28/2017 - 05:58:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation eased unexpectedly in June, preliminary figures from the statistical office Istat showed Wednesday.

The consumer price index rose 1.2 percent year-over-year in June, slower than the 1.4 percent increase in May. Meanwhile, economists had expected the inflation to remain stable at 1.4 percent.

Excluding energy and unprocessed food, core inflation accelerated to 0.9 percent in June from 0.7 percent in May.

Transport costs grew 3.7 percent annually in June and prices of food and non- alcoholic beverages climbed by 1.9 percent.

On a monthly basis, consumer prices edged down 0.1 percent in June, while it was forecast to rise by 0.1 percent.

The EU measure of inflation, based on the Harmonized Index of Consumer Prices, increased at a slower pace of 1.2 percent annually in June, following a 1.6 percent gain in May. That was below the 1.4 percent climb expected by economists.

Month-on-month, the HICP dropped 0.2 percent in June, while it was expected to remain flat.

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