Consumer prices

In August 2013, the Italian consumer price index for the whole nation (NIC) increased by 0.4% compared with the previous month and by 1.2% with respect to August 2012 (the provisional estimate was 1.1%), the same annual rate of July 2013.
The stability of the Italian inflation was mainly the result of opposite movements: on one hand, the slowdown of the annual growth of prices of Food and non-alcoholic beverages and the decrease on annual basis of prices of Communication and, on the other hand, the accelerations of the annual dynamics of prices of Recreation and Culture, Housing, water, electricity, gas and other fuels and Health.
The rise with respect to July 2013 of All items index was essentially due to the monthly increases of prices of Transport (+2.7%), Recreation and culture (+0.7%) and Housing, water, electricity, gas and other fuels (+0.3%).
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%).
The highest decreases on monthly basis were observed for prices of Communication (-0.6%) and of Food and non-alcoholic beverages (-0.4%). With regards to the latter, the main causes were the large declines, mainly due to seasonal factors, of prices of Fresh vegetables (-6.3% on monthly basis; +2.2% on annual basis from +8.5% of July 2013) and of Fresh fruit (-2.1% compared with the previous month; +9.9%(r) with respect to July 2012, from +9.6% observed in the previous month).
Italian core inflation, calculated excluding energy and unprocessed food, was 1.2%, up from 1.1% in July.
Italian consumer price index, excluding energy, increased by 1.3% with respect to August 2012 (the same value of July 2013).

In August 2013, the Italian harmonized index of consumer prices (HICP) held steady compared with the previous month and rose by 1.2% with respect to August, the same annual rate of change which was observed in July 2013. The final data confirmed the preliminary ones.
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%(r) with respect of the previous month), on which summer sales not taken into account in the national index NIC had an impact.
Core inflation measured by Italian HICP was 1.2%(r), up from 1.1% in July.
Italian harmonized index of consumer prices, excluding energy, increased by 1.5% with respect to August 2012 (0.2 higher than in July).

In August 2013, the Italian harmonized index of consumer prices at constant tax rates (HICP-CT) rose by 0.1% compared with the previous month and by 1.2% with respect to August 2012.

Note: On September 12, 2013, at 16:31, the Press release “Consumer Prices – final data of August 2013”, has been replaced as a result of the revision of some figures of NIC and HICP indices. Revised data are flagged with (r) in the text and in the tables of the Press release.