Italy’s inflation rate dropped to 5.9% in July – Istat – English

(ANSA) – ROME, AUG 10 – Italy’s annual inflation rate stayed
on a downward trend in July, falling to 5.9%, from 6.4% in June,
Istat on Thursday.

   
The figure was slightly lower than the national statistics
agency’s preliminary estimate of 6%.

   
“The slow down of the annual inflation rate was mainly due to
the prices of services related to transport (from +4.7% to
+2.4%), of non-regulated energy products (from +8.4% to +7.0%),
and of processed food including alcohol (from +11.5% to
+10.5%),” Istat said.

   
Driven by soaring energy prices after Russia’s invasion of
Ukraine, inflation peaked at 11.8% in October and November 2022.

   
The agency said its consumer price index was flat in June with
respect to May.

   
Istat said the core inflation rate, featuring all-items
excluding energy and unprocessed food, was 5.2%, down from 5.6%
in June.

   
Istat said its “trolley” index of goods such as food and
personal and household products dropped for the fifth
consecutive month in year-on-year terms in July, but remained
high at 10.2% (ANSA).