Inflation slowed down in Italy

By: Trademagazin Date: 2023. 08. 10. 11:58

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In Italy, consumer prices increased by 5.9 percent in July on an annual basis, after a 6.4 percent increase in June, the Italian statistical office, Istat, announced as final data on Thursday.

July’s annual inflation figure represents a 15-month low, the preliminary estimate included a slightly slower rate of 6.0 percent inflation.

Based on the final data of Istat, consumer prices in Italy remained unchanged on a monthly basis after the previous month’s stagnation, instead of the previously announced 0.1 percent increase.

According to Istat data, the decrease in annual price growth is largely due to the slowing growth of transport service prices and the impact of unregulated energy prices, which showed an increase of 7.0 percent in July and 8.4 percent in June. The price of processed food and alcoholic beverages also increased at a slower rate: after 11.5 percent in June, they increased by 10.5 percent in July. At the same time, the price of unprocessed food increased at an accelerating pace, after 9.4 percent in the previous month, it increased by 10.4 percent on an annual basis in the seventh month of the year.