Italy: Consumer prices post largest fall since April 2016 in August
Consumer prices rose 0.29% over the previous month in August, swinging from the 0.19% drop logged in July. August’s uptick was the sharpest increase in prices since August 2019. The figure was largely due to a less pronounced fall in prices for food and non-alcoholic beverages. In addition, price pressures for transportation intensified. Prices for utilities goods also gained steam.
Consumer prices decreased 0.5% year-on-year in August, following July’s 0.4% decrease. August’s result represented the largest fall in consumer prices since April 2016. Annual average inflation ticked down to 0.1% in August (July: 0.2%). Core inflation edged down to 0.3% from the previous month’s 0.4%.