Italian Inflation Revised Down to 1.1% in May


In May 2013, the Italian consumer price index for the whole nation held steady compared with the previous month and increased by 1.1 percent with respect to May 2012 (the provisional estimate was 1.2 percent), the same annual rate of change of April 2013.

Food and non-alcoholic beverages (+3.1 percent on annual basis, up from +2.7 percent observed in April) and transport (+0.1 percent on annual basis, from -0.2 percent observed in the previous month) had an upward impact. With regard to food and non-alcoholic beverages, the main cause was the large increase of fresh fruit prices (+9.4 percent).

Concerning transport, the upward impact effect was mainly due to the increase of prices of passenger transport by air (+14.2 percent, from -0.4 percent observed in April). In the same division, fuels and lubricants had a large downward impact (-5.3 percent with respect to May 2012, from -4.1 percent observed in April 2013).

In May 2013, the Italian harmonized index of consumer prices held steady compared with the previous month and increased by 1.3 percent with respect to May 2012, the same annual rate of change of April 2013. Italian core inflation, calculated excluding energy and unprocessed food, was 1.3 percent, up from 1.2 percent in April.

Italian Inflation Revised Down to 1.1% in May


Istat | Nuno Fontes | nuno@tradingeconomics.com
6/12/2013 9:58:11 AM