Food inflation slowed in Italy

By: Trademagazin Date: 2023. 07. 17. 11:50

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In Italy, as previously announced, consumer prices rose by 6.4 percent year-on-year, after a 7.6 percent increase in May, the Italian statistical office, Istat, announced as final data on Monday.

June’s annual inflation figure is a 14-month low. Based on the final data of Istat, in line with the preliminary estimate, consumer prices in Italy stagnated on a monthly basis after the previous month’s 0.3 percent increase.

According to Istat data, the decrease in the annual price increase is largely due to the base effect, the effect of unregulated energy prices, which showed an increase of 8.4 percent in June and 20.3 percent in May. The price of processed food and alcoholic beverages also increased at a slower pace: after 13.2 percent in May, they increased by 11.5 percent in June. At the same time, the price of unprocessed food increased at an accelerating pace, after 8.8 percent in the previous month, it increased by 9.4 percent on an annual basis in the sixth month of the year.