Italy July Inflation Slows to 2.9 Percent

The Italian National Institute of Statistics (ISTAT) reported that consumer price inflation in Italy slowed to 2.9 percent in July, down from 3.0 percent in June. This final figure represents a smaller moderation than the initial flash estimate of 2.8 percent.

Price movements were mixed across sectors. Annual growth for unprocessed food dropped to 3.6 percent and non-regulated energy products softened to 11.4 percent. Conversely, inflation for regulated energy products accelerated to 14.8 percent, and transport-related services inflation rose to 1.6 percent. Core inflation, which excludes energy and unprocessed food, remained stable at 1.6 percent.

On a monthly basis, consumer prices increased by 0.3 percent, exceeding the 0.2 percent increase seen in the preliminary report. Italy's July inflation rate aligns with the broader European Union measure, which also fell to 2.9 percent from 3.0 percent in June.