Italian Inflation Rate Confirmed at 1.2% in August


Italy's consumer prices increased 1.2 percent year-on-year in August of 2017, compared to a 1.1 percent rise in the previous month and matching preliminary estimates, final figures showed. The annual Inflation rate accelerated mainly due to rising prices of transport.

Year-on-year, consumer prices rose mostly for transport (3.7 percent vs 2.3 percent in July), namely driven by services related to transport (4.4 percent vs 3.2 percent). Also, cost advanced for recreation and culture (0.5 percent vs 0.4 percent) and increased at the same pace for restaurants and hotels (2.2 percent) and miscellaneous goods and services. In contrast, prices slowed for food and non-alcoholic beverages (0.8 percent vs 0.9 percent); housing and utilities (2.5 percent vs 2.6 percent); clothing and footwear (0.4 percent vs 0.5 percent) while declined for furniture and household equipment (-0.1 percent from a flat reading) and communication (-2.6 percent vs -2.9 percent).

Annual core inflation, which excludes energy and unprocessed food, went 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, also in line with earlier estimates, 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.

Istat |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/14/2017 8:35:43 AM