Italy inflation drops 0.2% on a monthly basis in May
The figure mainly reflected lower prices for services related to transport and recreation, the decrease in which was due to a high base of comparison, as Easter and Liberation day were celebrated in April this year.
Meanwhile, inflation came in at a four-month low of 1.4% in May, decelerating from April’s 1.9% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, declined 0.2% in May on a monthly basis, contrasting April’s 0.6% increase.
Core inflation was 0.7% in May, below April’s 1.1%. Finally, harmonized inflation came in at 1.6%, down significantly from April’s 2.0%
FocusEconomics Consensus Forecast panelists expect inflation of 1.0% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect inflation to average 1.2%. ■