Italy Inflation Rate Picks Up to 1.2% in August

Italian consumer prices are expected to increase 1.2 percent year-on-year in August 2017, compared to 1.1 percent gain in the previous month and above market expectations of 1.1 percent, the preliminary estimate showed. The slight increase in annual inflation was mostly driven by higher prices of transport.
Istat | Luisa Carvalho | 8/31/2017 10:04:06 AM
Year-on-year, prices continued to advance for transport (3.7 percent vs 2.3 percent in July) and recreation and culture (0.5 percent vs 0.4 percent). Meantime, inflation rate was steady for housing and utilities (2.6 percent) and miscellaneous goods and services (0.8 percent).

In contrast, cost slowed for food and non-alcoholic beverages (0.8 percent vs 0.9 percent); restaurants and hotels (2.1 percent vs 2.2 percent); clothing and footwear (0.3 percent vs 0.5 percent) while declined for furnishings (-0.1 percent, after being flat in July) and communication (-2.6 percent vs -2.9 percent).

Annual core inflation, which excludes energy and unprocessed food, inched up to 1 percent from 0.8 percent in July. Excluding only energy, the inflation was unchanged at 0.9 percent.

On a monthly basis, consumer prices rose 0.3 percent, above market consensus of a 0.2 percent gain, after increasing 0.1 percent in July.

The harmonized index went up 1.4 percent on the year and recovered by 0.1 percent from the previous month.

Italy Inflation Rate Picks Up to 1.2% in August