Consumer prices (provisional data)

According to preliminary estimates, in June 2019 the Italian consumer price index for the whole nation (NIC) increased by 0.2% on monthly basis and by 0.8% with respect to June 2018 (the same as in the previous month).

The stability of the growth on annual basis of All items index was due to opposite dynamics: on one hand the speed-up of prices of Services related to recreation, including repair and personal care (from +1.0% to +1.3%) and the reduction in amplitude of the decrease of those of Services related to communication (from -7.2% to -5.9%) and on the other hand the trend reversal of prices of Non-regulated energy products (from +2.4% to -0.6%).

The core inflation excluding energy and unprocessed food was +0.5% (up from +0.4% in May 2019) and inflation excluding energy was +0.6% (up from +0.5%).

The increase on monthly basis of All items index was especially due to prices of Services related to transport (+2.1%), affected by seasonal factors, only partially offset by the decrease of those of Unprocessed food (-1.1%) and of Non-regulated energy products (-0.7%).

The annual rate of change of prices of Goods was +0.6% (down from +0.8% in the previous month) and that one of prices of Services was +1.0% (up from +0.8% in May 2019). As a consequence, the inflationary gap between Services and Goods was +0.4 percentage points (zero in May).

Prices of Grocery and unprocessed food decreased by 0.2% on monthly basis and increase by 0.3% on annual basis (the same as in the previous month).

In June 2019, according to preliminary estimates, the Italian harmonized index of consumer prices (HICP) increased by 0.1% on monthly basis and by 0.8% with respect to June 2018, down from +0.9% in the previous month.