The slowdown in annual inflation was mainly driven by regulated energy products (+12.9 per cent vs +17.1 per cent in July), non-regulated energy (-6.3 per cent vs -5.2 per cent), communication services (+0.2 per cent vs +0.5 per cent), and processed food including alcohol (+2.7 per cent vs +2.8 per cent), Istat said in a press release.
Conversely, prices accelerated for unprocessed food (+5.6 per cent), recreation and personal care services (+3.0 per cent), and transport services (+3.5 per cent). Core inflation rose to 2.1 per cent from 2.0 per cent, while inflation excluding energy increased to 2.3 per cent from 2.2 per cent.
On an annual basis, goods prices grew 0.6 per cent, slower than July’s 0.8 per cent, while services rose 2.7 per cent, widening the inflation gap to 2.1 percentage points.
Monthly price increases were led by transport services (+2.1 per cent), processed food (+0.5 per cent), and recreation services (+0.4 per cent), partly offset by declines in non-regulated energy (-2.1 per cent) and regulated energy (-0.3 per cent).
The harmonised index of consumer prices (HICP) fell 0.2 per cent month-on-month (MoM), due to summer sales excluded from the NIC, but rose 1.6 per cent YoY, below the flash estimate of 1.7 per cent.
ALCHEMPro News Desk (SG)
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