Italy inflation only marginally lower in June as services inflation cool a little
- CPI +3.0% vs +3.1% y/y expected
- Prior +3.2%
- HICP +3.1% vs +3.2% y/y expected
- Prior +3.2%
The preliminary numbers show just a marginal drop in headline annual inflation in Italy for the month of June. And that’s also reflected in core prices as well, with core annual inflation dropping to 1.6% in June from 1.7% in May.
The drop largely stems from a slight decline in services inflation, which fell to 2.6% in June – down from 2.8% in May. Meanwhile, goods price inflation remained stable at 3.4% on the month.
Istat notes that: “The slight slowdown essentially reflects the easing of price pressures on unprocessed food, transportation-related services, and recreational, cultural, and personal care products. Inflation, on the other hand, was supported by the moderate acceleration in energy prices."
This article was written by Justin Low at investinglive.com.