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Financial News: Italy Inflation Increases In August

Italy Inflation Increases In August

08/31/2021 - 07:42:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation increased in August, preliminary estimates from the statistical office Istat showed on Tuesday.

Consumer prices increased 2.1 percent yearly in August, following a 1.9 percent rise in July. Economists had forecast a rise of 2.0 percent.

On a month-on-month basis, consumer prices rose 0.5 percent in August. Economists had expected a 0.4 percent rise.

The core inflation rose to 0.6 percent in August, same as in the prior month.

Inflation, based on the harmonized index of consumer prices, rose to 2.6 percent in August from 1.0 percent in the previous month. Economists had forecast a rise of 2.0 percent.

The HICP rose 0.3 percent monthly in August. Economists had forecast a fall of 0.3 percent.

Separate data from the statistical office showed that the producer prices accelerated 10.4 percent yearly in July, following a 9.1 percent rise in June.

On a monthly basis, producer prices increased 2.1 percent in July, following a 1.4 percent rise in the prior month.

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