Italy's EU-Harmonised Inflation Rate Eases Slightly to 3.1% in June 2024
June 2024 Inflation Data and Economic Context
Monthly and Annual Inflation Trends
ROME, June 30 (Reuters) - Italian EU-harmonised consumer prices (HICP) rose 0.1% in June from the month before, with the annual inflation rate slowing to 3.1% from May's 3.2%, preliminary data showed on Tuesday, amid high energy costs due to turmoil in the Middle East.
Analyst Forecasts Versus Actual Results
The reading was slightly below a median forecast in a Reuters survey of 15 analysts which pointed to an increase of 0.2% month-on-month and a year-on-year rise of 3.2%.
Breakdown of Price Indices
Domestic Price Index (NIC)
Official statistics agency ISTAT also reported that the main domestic price index (NIC) was flat month-on-month in June and up 3.0% annually, following a 3.2% annual rate in May.
Core Inflation Excluding Volatile Components
Fresh Food and Energy Impact
Core inflation (net of fresh food and energy) was running at 1.6% year-on-year on the HICP index in June, slowing from 1.8% in May.
(Reporting by Valentina Consiglio and Gavin Jones, graphic by Stefano Bernabei)
