Italian inflation stayed at 0.8% in June, the same as May, Istat said on Friday. In May, industrial producer prices increased by 0.3% on a monthly basis.
In June, the national index of consumer prices for the entire collectivity, gross of tobacco, increased by 0.1% on a monthly basis and by 0.8% on an annual basis. Meanwhile, the HICP index, harmonised according to EU parameters, increased by 0.2% on a monthly basis and by 0.9% on an annual basis, national stats institute Istat said in its preliminary estimates.
The “core inflation”, net of energy and fresh food, remains stable at +2.0%, while that net of energy goods alone decelerates slightly (from +2.0% to +1.9%).
The inflation outlook for 2024 is +0.8% for the overall index and +1.9% for the core component.
“The slowdown in the year-on-year growth rate of the prices of the “shopping trolley” continued in June: the prices of food, household and personal care goods (the so-called shopping trolley ed.) slowed down on a trend basis (from +1.8% to +1.4%). High-frequency products went from +2.5% to +2.1%.
In April, Italy had the lowest inflation rate in the EU.
Industrial prices increased
In May, industrial producer prices increased by 0.3% on a monthly basis and decreased by 3.5% on an annual basis (it was -5.9% in April), Istat reported.
On a cyclical basis, the stats agency said, the negative phase in place since November 2023 is interrupted. It recorded a moderate growth spread to all groupings, excluding capital goods whose prices are stationary.
On a year-on-year basis, the further reduction in their decline is still mainly due to “the easing of the negative trend in the prices of the energy component on the domestic market”.
