Consumer prices: provisional data

In June 2014, according to provisional estimates, the Italian consumer price index for the whole nation (NIC) rose by 0.1% compared with the previous month and by 0.3% with respect to June 2013 (0.2 lower than in May 2014).

The slowdown of inflation was mainly due to the extension of the decrease on annual basis of prices of Unprocessed food; also the slowdown of the annual growth of prices of Processed food, Non-regulated energy products and Services related to housing had an impact but to a lesser extent.

Excluding unprocessed food and energy, core inflation was 0.7% (0.1 lower than in May 2014) and excluding only energy, the inflation was 0.5% (down from 0.6% in May 2014).

The increase on monthly basis of All items index was mainly due to the rise ‒ on which seasonal factors had an impact ‒ of prices of Services related to transport (+0.7%).

The annual rate of change of prices of Goods was -0.3% (from -0.1% in May 2014) and the annual rate of change of prices of Services was +0.8% (down from +0.9% in the previous month). As a consequence, the inflationary gap between Services and Goods increased by 0.1 percentage points with respect to May 2014.

Prices of Grocery and unprocessed food were stable on monthly basis and declined by 0.5% on annual basis (from +0.1% observed in May 2014).

In June 2014, according to preliminary estimates, the Italian harmonized index of consumer prices (HICP) increased by 0.1% compared with the previous month and by 0.2% with respect to June 2013 (0.2 lower than in May 2014).

Core inflation measured by Italian HICP was stable at 0.8%; excluding energy, food, alcohol and tobacco, the inflation was 0.7%, down from 0.8% registered in the previous month. Italian HICP, excluding energy, increased by 0.4% with respect to June 2013 (0.2 lower than in May 2014).