ROME (Reuters) -Italian EU-harmonised consumer prices (HICP) fell a preliminary 1.0% month-on-month in July, with annual inflation slightly decelerating to 1.7%, data showed on Thursday. The reading
Italy July EU-harmonised CPI decelerates to 1.7% y/y, 'core' inflation stable
July Inflation Trends in Italy
ROME (Reuters) -Italian EU-harmonised consumer prices (HICP) fell a preliminary 1.0% month-on-month in July, with annual inflation slightly decelerating to 1.7%, data showed on Thursday.
Monthly and Annual Inflation Rates
The reading for the year-on-year rate was just above a median forecast in a Reuters survey of 17 analysts, which pointed to an increase of 1.6%, whereas the monthly rate was in line with the Reuters consensus.
Core Inflation Analysis
Official statistics agency ISTAT also reported that the main domestic price index (NIC), was up 0.4% on the month and up 1.7% annually in July, the same year-on-year rate as in June.
Impact of Summer Sales
The HICP monthly decline was due to the summer sales, not taken into account by NIC index.
Core inflation (net of fresh food and energy) was running at 2.1% year-on-year on the HICP index in July, stable from the month before.
(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Giselda Vagnoni)
