Italy's annual inflation slows to 6.4% in June 2023

The slowdown of the annual inflation rate was mainly due to the prices of non-regulated energy products from 20.3 per cent to 8.4 per cent and to the modest drop in falling prices of regulated energy products, from -28.5 per cent to -29.0 per cent, the Italian National Institute of Statistics (ISTAT) said in a press release.

The core inflation for All-items excluding energy and unprocessed food was 5.6 per cent—down from 6.0 per cent in May and the All-items index excluding energy was 5.8 per cent, from 6.2 per cent in the previous month.

As for goods, the year-on-year growth rate was 7.5 per cent—down from 9.3 per cent in May.

In June 2023 the Italian harmonised index of consumer prices (HICP) increased by 0.1 per cent on a monthly basis and by 6.7 per cent on an annual basis from 8.0 per cent in the previous month, confirming the flash estimate.

In the second quarter of 2023, inflation measured by HICP had a wider impact on the sub-population with the lowest level of equivalent expenditure than on households with the highest amount of expenditure—9.4 and 7.1 per cent, respectively.

ALCHEMPro News Desk (NB)