Financial News: Italy Inflation Confirmed At 9-Month High

Italy Inflation Confirmed At 9-Month High

08/09/2024 - 06:07:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation accelerated to the highest level in nine months, as initially estimated in July, the latest data from the statistical office showed on Friday.

Consumer price inflation accelerated to 1.3 percent in July from June's stable 0.8 percent. That was in line with the flash data published on July 31.

Further, this was the highest inflation since October 2023, when prices had risen 1.7 percent.

The annual price growth for regulated energy products quickened to 11.7 percent in July from 3.5 percent. Charges for services related to recreation, including culture and personal care, rose 4.4 percent.

Meanwhile, prices of non-regulated energy products showed a decline of 6.0 percent versus a 10.3 percent drop a month ago.

On a monthly basis, consumer prices moved up 0.4 percent in July, revised down from 0.5 percent.

Inflation, based on the harmonized index of consumer prices, accelerated to 1.6 percent in July from 0.9 percent in the previous month. In the flash report, the rate of increase was 1.7 percent. Monthly, the HICP rose 0.9 percent versus an initial 0.8 percent rise.

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