Italy Inflation Eases Less Than Estimated

(RTTNews) - Consumer price inflation in Italy moderated less-than-estimated initially in July to the lowest level in three months, the latest data from the statistical office showed on Wednesday.

Consumer price inflation slowed to 2.9 percent in July from 3.0 percent in June. The flash estimate was 2.8 percent.

The annual price growth in unprocessed food eased to 3.6 percent from 4.4 percent, and that in non-regulated energy products softened to 11.4 percent from 13.3 percent.

On the other hand, inflation based on regulated energy products accelerated to 14.8 percent from 9.2 percent, and transport-related services inflation rose to 1.6 percent from 1.1 percent.

Excluding energy and unprocessed food, core inflation remained stable at 1.6 percent, as estimated.

On a monthly basis, consumer prices moved up 0.3 percent versus an increase of 0.2 percent seen in the preliminary report.

The EU measure of inflation was 2.9 percent in July, down from 3.0 percent in June. Monthly, the HICP decreased 1.0 percent. There was no change in figures compared to the earlier estimate.