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Financial News: Italy Inflation Rises Less Than Estimated

Italy Inflation Rises Less Than Estimated

06/16/2022 - 06:02:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation increased less than initially estimated in May, final estimates from the statistical office Istat showed on Thursday.

Consumer prices increased 6.8 percent yearly in May, following a 6.0 percent rise in March. In the initial estimate, inflation was 6.9 percent.

Core inflation rose to 3.2 percent in May from 2.4 percent in the previous month, while in the initial estimate, core inflation was 3.3 percent.

On a month-on-month basis, consumer prices rose 0.8 percent in May. According to the initial estimate, prices increased 0.9 percent.

The monthly growth was mainly due to prices of non-regulated energy products that rose 3.6 percent, and those of processed food including alcohol, which grew 1.3 percent.

Prices of services related to recreation, including repair and personal care, and of unprocessed food rose by 1.2 percent and 1.1 percent, respectively.

Inflation, based on the harmonized index of consumer prices, climbed to 7.3 percent in May from 6.3 percent in the previous month, as estimated.

The HICP rose 0.9 percent monthly in May. This was in line with the initial estimate.

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