Italian Inflation Rate Edges Up to 1.2% in June


In June, Italian consumer price index increased 1.2 percent with respect to June of 2012, 0.1 percentage points higher than the rate registered in May of 2013. The slight speed up of inflation was mainly due to the impact of transport prices which were up 1.0 percent yoy.

Concerning transport, the upward effect was mainly due to the increase of prices of passenger transport by air (+16.1 percent yoy), on which seasonal factors had in part an impact. In the same division, fuels and lubricants also had an upward impact due to an increase with respect to the previous month (+0.7 percent) that brought to -1.9 percent the rate of change on annual basis from -5.3 percent in the previous month.
 
With regard to food and non-alcoholic beverages, the main cause was the large increase of fresh fruit prices (+6.9 percent both compared with the previous month and with respect to June 2012).
 
The CPI month-on-month increase (+0.3 percent) was due in particular to the increases of prices of food and non-alcoholic beverages, transport (both +0.6 percent) and recreation and culture (+0.4 percent).
 
In June, according to preliminary estimates, the Italian harmonized index of consumer prices (HICP) increased by 0.3 percent compared with the previous month and by 1.4 percent with respect to June of 2012 (0.1 higher than in May of 2013).

Italian Inflation Rate Edges Up to 1.2% in June


Istat | Nuno Fontes | nuno@tradingeconomics.com
6/28/2013 10:46:22 AM