Italy Inflation Rate Revised Down to 1.6% in August

The annual inflation rate in Italy rose to 1.6 percent in August of 2018 from 1.5 percent in July, matching the preliminary estimate and below market expectations of 1.7 percent. Still, it was the highest inflation rate since April 2017, mainly due to rising prices of transport.
Istat | Luisa Carvalho | 9/14/2018 8:55:47 AM
Year-on-year, inflation picked up for transport (4.2 percent vs 4.0 percent in July), namely services related to transport (2.8 percent vs 1.7 percent); housing & utilities (2.8 percent vs 2.6 percent); recreation & culture (0.3 percent vs 0.2 percent) and furniture & household equipment (0.3 percent vs 0.2 percent).

On the other hand, prices increased less for food & non-alcoholic beverages (2.2 percent vs 2.4 percent), led by a slowdown in cost of unprocessed food (3.1 percent vs 3.6 percent); restaurants & hotels (1.1 percent vs 1.2 percent) and alcoholic beverages & tobacco (3.4 percent vs 3.8 percent).

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.8 percent from 0.7 percent in the previous month. Excluding only energy, the inflation inched up to 1.1 percent from 0.9 percent in July.

On a monthly basis, consumer prices went up 0.4 percent, in line with the preliminary estimate, and compared to a 0.3 percent increase in the prior month.

The harmonised index of consumer prices increased by 1.6 percent from the previous year (1.9 percent in July), and decreased by 0.2 percent from the previous month (-1.4 percent in July).

Italy Inflation Rate Revised Down to 1.6% in August