Consumer prices: provisional data

In August 2013, according to provisional estimates, the Italian consumer price index for the whole nation (NIC) increased by 0.3% compared with the previous month and by 1.1% with respect to August 2012 (0.1 lower than in July 2013).

The slight reduction of Italian inflation was mainly due to the slowdowns of annual dynamics of prices of Food and non-alcoholic beverages and of Communication.

The rise on monthly basis of All items index was essentially due to the increases of prices of Transport (+2.7% compared with July 2013) and of Recreation and culture (+0.7% with respect to the previous month), only partially offset by the decreases of prices of Communication and of Food and non-alcoholic beverages (respectively -0.6% and -0.5% compared with July 2013).

With regard to Transport, the main causes were the large increases of prices of Passenger transport by air (+28.3% on monthly basis; +26.3% on annual basis) and of Passenger Transport by sea and inland waterway (+30.3% compared with the previous month; -2.0% on annual basis), on which seasonal factors had an impact.

In the same division, prices of Fuels and lubricants increased by 1.2% on monthly basis; nevertheless, the annual rate of change was negative (-2.0%), owing to the comparison with August 2012, when the monthly rate of change was higher (+3.5%).

Concerning Food and non-alcoholic beverages, the main causes were the large decreases, due mainly to seasonal factors, of prices of Fresh vegetables (-6.5% on monthly basis; +2.0% on annual basis from +8.5% of July 2013) and of Fresh fruit (-2.1% compared with the previous month; +9.9% with respect to July 2012, from +9.6% observed in the previous month).

In August 2013, according to preliminary estimates, the Italian harmonized index of consumer prices (HICP) held steady compared with the previous month and rose by 1.2% with respect to August 2012, the same annual rate of change of July 2013.

The stability on monthly basis was essentially due to the opposite monthly dynamics of prices of Transport (+2.7% compared with July 2013) and of Clothing and Footwear (-4.7% with respect of the previous month), on which summer sales – not taken into account in the national index NIC – had an impact.