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Financial News: Italy's Inflation At 13-Month Low

Italy's Inflation At 13-Month Low

06/14/2019 - 07:39:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation slowed more than initially estimated to a 13-month low in May, final data from the statistical office Istat showed Friday.

Another report from Istat showed that industrial orders declined in April due to a notable contraction in foreign demand.

Consumer prices advanced 0.8 percent year-on-year in May, slower than the 1.1 percent increase in April. The annual rate was revised down from 0.9 percent estimated on May 31.

On a monthly basis, consumer prices remained flat compared to the flash estimate of 0.1 percent rise and April's 0.2 percent increase.

The deceleration was largely driven by slowdown in transport and unregulated energy prices.

EU harmonized inflation fell to 0.9 percent in May from 1.1 percent a month ago. On month, the harmonized index of consumer prices edged up 0.1 percent after climbing 0.5 percent. The annual and monthly HICP rates were confirmed.

Industrial new orders decreased 2.4 percent month-on-month in April in contrast to March's 2.1 percent increase, Istat reported. Domestic orders slid 1 percent and foreign orders declined 4.1 percent.

Year-on-year, industrial orders dropped 0.2 percent but slower than the 3.8 percent contraction seen in March.

At the same time, industrial turnover fell 1 percent on month versus a 0.4 percent rise in March. On a yearly basis, turnover dropped 0.7 percent.

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