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Italy inflation drops 0.2% on a monthly basis in May

Staff Writer |
According to revised data released by the National Statistical Institute (Istat), consumer prices dropped 0.2% on a monthly basis in May, contrasting April’s 0.4% increase.

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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%.

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