Italy Inflation Rate at 6-Month High


Italian consumer prices increased 0.1 percent year-on-year in May 2015, compared to a flash estimate of 0.2 percent. It was the first increase of the year, as accommodation prices rose further while transport and non-regulated energy products cost fell at a slower pace.

Year-on-year, prices of accommodation and restaurants went up 1.1 percent compared to a 0.9 percent in April. Cost of services related to transports grew 0.8 percent against a 0.6 percent decrease in the previous month. Additional upward pressure came from: alcoholic beverages and tobacco (+3.2 percent); education (+1.8 percent); food and non-alcoholic beverages (+1.0 percent); furniture, and household services (+0.5 percent); clothing and footwear (+0.4 percent); health (+0.3 percent); and recreation and culture (+0.3 percent).

Meanwhile, transport cost fell 1.2 percent compared to a 2.1 percent decrease in the previous month. Non-regulated energy products cost declined at a slower 7.2 percent compared to a 8.7 percent drop last month. Also, communication and utilities prices declined 2.1 percent and 1.4 percent, respectively.

Core inflation (excluding energy and unprocessed food) was recorded at 0.6 percent (up from +0.3 percent in the previous month); excluding energy, the inflation was 0.8 percent (0.2 higher when compared to April).

On a monthly basis, consumer prices rose 0.1 percent, as prices of non-regulated energy goods increased 1.8 percent and cost of recreational, cultural and personal care went up 0.5 percent.

The harmonized index rose 0.2 percent both on an annual basis and compared to April 2015. 

Istat | joana.ferreira@tradingeconomics.com
6/15/2015 12:41:18 PM