• CPI +3.0% vs +3.1% y/y expected
• Prior +3.2%
• HICP +3.1% vs +3.2% y/y expected
• Prior +3.2%

The preliminary numbers show just a marginal drop in headline annual inflation in Italy for the month of June. And that’s also reflected in core prices as well, with core annual inflation dropping to 1.6% in June from 1.7% in May.

The drop largely stems from a slight decline in services inflation, which fell to 2.6% in June – down from 2.8% in May. Meanwhile, goods price inflation remained stable at 3.4% on the month.

Istat notes that: “The slight slowdown essentially reflects the easing of price pressures on unprocessed food, transportation-related services, and recreational, cultural, and personal care products. Inflation, on the other hand, was supported by the moderate acceleration in energy prices.”