Italy Deflation Eases to 0.1% in July
Consumer prices in Italy are expected to edge down by 0.1 percent year-on-year in July of 2016, following a 0.4 percent fall in the previous period, as cost of energy fell less and unprocessed food increased more. It is the sixth consecutive month of deflation although figures came better than market expectations of a 0.2 percent decline, preliminary estimates showed. On a monthly basis, consumer prices edged up 0.2 percent.
Year-on-year, prices were higher for food including alcohol (+0.6 percent from +0.5 percent in June), unprocessed food (+1.5 percent from +0.5 percent) and tobacco (+2.9 percent from +2.9 percent). Cost of of energy (-7.5 percent from -7.5 percent) and non-regulated energy goods (-8 percent from -8.1 percent) fell, while prices of non-energy industrial goods increased at a faster 0.5 percent (+0.4 percent in June).
Annual core inflation (excluding energy and unprocessed food) was recorded at 0.6 percent, the same pace as in June.
The harmonized index edged down by 0.1 percent year-on-year while compared with 0.2 percent fall in the previous month.
On a monthly basis, consumer prices in Italy increased 0.2 percent.
7/29/2016 10:37:05 AM