Consumer prices

The Consumer Price Index measures the change in prices over time of a set of goods and services (CPI basket) representative of Italian household consumption.
In July 2012:

• the National Consumer Price Index for the whole nation CPI (see Italian NIC) – used to measure inflation over the entire Italian economic system – rose by 0.1% compared to the previous month and by 3.1% in comparison to the same month of the previous year;
• the EU Harmonized Index of Consumer Prices HICP (see Italian IPCA) – developed to facilitate the comparison of inflation between Member States – declined by 1.7% compared to the previous month and rose by 3.6% in comparison to the same month of the previous year;
• the EU Harmonized Index of Consumer Prices at Constant Tax rates HICP-CT (see Italian IPCA-TC) declined by 1.7% compared to the previous month and rose by 2.7% in comparison to the same month of the previous year.