Italy Inflation Rate Revised Down to 1% in May

Inflation rate in Italy increased to 1 percent in May of 2018 from 0.5 percent in April, below the preliminary estimate of 1.1 percent. Still, it was the highest inflation rate since October of 2017.
Istat | Agna Gabriel | 6/15/2018 9:40:09 AM
Year-on-year, inflation picked up for: food & non-alcoholic beverages (1.9 percent from 1.2 percent in April), mostly unprocessed food (2.4 percent from 0.7 percent); transport (2.6 percent from 0.4 percent), as cost of services related to transport rebounded (1.7 percent vs -0.7 percent). Additional upward pressure came from: restaurants & hotels (1.5 percent from 1.2 percent); miscellaneous goods & services (2.3 percent from 2 percent); furniture & household equipment (0.2 percent from 0.1) and alcoholic beverages & tobacco (3.5 percent from 3 percent).

Meanwhile, inflation was steady for clothing & footwear (0.2 percent) and prices eased for recreation & culture (0.4 percent from 0.8 percent).

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.8 percent from 0.5 percent in April. Excluding only energy, the inflation also quickened to 0.8 percent from 0.5 percent in the prior month.

On a monthly basis, consumer prices went up 0.3 percent, below the preliminary estimate of a 0.4 percent increase and following a 0.1 percent gain in April.

The harmonized index of consumer prices went up by 1 percent from the previous year (0.6 percent in April) and by 0.3 percent from the previous month (0.5 percent in April).

Italy Inflation Rate Revised Down to 1% in May