Inflation in Italy accelerated to 1.7 percent in June

A month earlier, in May, annual inflation was 1.6 percent.

On a monthly basis, consumer prices in Italy rose by 0.2 percent, in line with analysts’ expectations, after falling by 0.1 percent in May compared to the previous month.

According to the Istat statement, the acceleration in annual price growth was mainly due to the increasing price of unprocessed and processed foods.

The annual price increase of processed foods (including alcohol) accelerated from 2.7 percent to 3.0 percent in the sixth month of the year, while fresh, unprocessed foods rose by 4.2 percent after a 3.5 percent price increase in May.

The price of non-regulated energy products fell by 4.6 percent, following a 4.3 percent drop in the previous month, while the price increase of regulated energy products slowed to 22.7 percent in June from 29.3 percent in the previous month.

The growth rate of the Harmonised Index of Consumer Prices (HICP), calculated for EU comparison purposes, was 1.7 percent, the same as in the previous month, instead of the 1.8 percent expected by analysts, and in month-on-month terms, it was recorded a 0.2 percent increase, following a 0.1 percent decrease in the previous month.

Annual core inflation excluding unprocessed food and energy rose to 2.1 percent in June from 1.9 percent in May.