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Financial News: Italy Inflation Confirmed At 0.8%

Italy Inflation Confirmed At 0.8%

06/17/2024 - 04:49:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation held steady as initially estimated in May, preliminary data from the statistical office ISTAT showed on Monday.

Consumer prices logged an annual increase of 0.8 percent in May, the same as in April. That was in line with the flash data published on May 31.

On a monthly basis, consumer prices rose 0.2 percent in May, following a 0.1 percent rise in April.

Core inflation, which excludes prices of energy and unprocessed food, softened slightly to 2.0 percent from 2.1 percent, as estimated.

The annual price growth of processed food goods moderated to 1.8 percent from 2.5 percent, and services related to transport rose at a slower pace of 2.4 percent versus 2.7 percent in April. Data showed that non-regulated energy product prices declined 13.5 percent.

Inflation, based on the harmonized index of consumer prices, came in at 0.8 percent on the year in May, slower than April's 0.9 percent rise. Monthly, the HICP moved up 0.2 percent. There was no change in figures compared to the previous estimate.

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