Italy Deflation Confirmed at 0.1% in July
Consumer prices in Italy decreased slightly by 0.1 percent year-on-year in July of 2016, following a 0.4 percent decline in the previous period and in line with preliminary estimates, final figures showed. It was smallest fall in six months, as cost of energy dropped at a slower pace while unprocessed food prices rose further.
8/11/2016 10:32:25 AM
Compared to July 2015, main downward pressure came from transport (-2.2 percent) and housing and utilities (-2 percent). In contrast prices rose for food and non-alcoholic beverages (+0.6 percent), restaurants and hotels (+0.8 percent), miscellaneous goods and services (+0.4 percent), health (+0.3 percent), recreation and culture (+0.5 percent).
Annual core inflation (excluding energy and unprocessed food) recorded at 0.6 percent.
The harmonized index edged down by 0.2 percent year-on-year, compared with 0.1 percent decrease in the previous month.
On a monthly basis, consumer prices in Italy went up by 0.2 percent.