Inflation continued to slow down in Italy

By: Trademagazin Date: 2023. 07. 31. 12:10

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In Italy, consumer prices rose by 6.0 percent year-on-year in July, after a 6.4 percent rise in June, the Italian statistical office, Istat, announced on Monday as preliminary data.

The annual inflation data for July represents a 15-month low, analysts had previously expected a slightly slower rate of inflation of 6.1 percent.

Based on preliminary data from Istat, consumer prices in Italy increased by 0.1 percent on a monthly basis, as expected by analysts, after the previous month’s stagnation.

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 pace: after 11.5 percent in June, they increased by 10.9 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.