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Financial News: Italy Inflation Accelerates As Estimated

Italy Inflation Accelerates As Estimated

07/15/2022 - 05:54:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation accelerated as initially estimated in June, latest figures from the statistical office Istat showed on Friday.

Consumer price inflation rose to 8.0 percent in June from 6.8 percent in May. That was in line with flash data published on July 1.

The annual price growth was largely impacted by a 48.7 percent jump in energy products, of which regulated energy products grew significantly by 64.3 percent.

Utility costs alone grew 28.1 percent annually in June and transport charges increased 13.1 percent.

Prices for food and non-alcoholic beverages were 9.0 percent higher in June compared to last year, and those for hotels and restaurants rose 7.2 percent.

Excluding energy and unprocessed food, core inflation accelerated to 3.8 percent in June from 3.2 percent in the previous month. The latest figures match flash data.

Inflation, based on the harmonized index of consumer prices, rose to 8.5 percent in June from 7.3 percent in the previous month, as estimated. The HICP rose 1.2 percent monthly in June.

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