In June 2022 the rate of change of the Italian consumer price index for the whole nation (NIC) was +1.2% on monthly basis and +8.0% on annual basis (from +6.8% in May), the same as the flash estimate.
In a context of widespread inflationary trends, the speed-up of the growth on annual basis of All-item index was due to the prices of several types of products: of Energy (from +42.6% to +48.7%), specifically of Non-regulated energy products (from +32.9% to +39.9%; Regulated energy products confirmed the same wide increase of the previous month, equal to +64.3%), of Processed food including alcohol (from +6.6% to +8.1%), of Unprocessed food (from +7.9% to +9.6%), of Services related to recreation, including repair and personal care (from +4.4% to +5.0%) and of Services related to transport (from +6.0% to +7.2%).
Therefore, core inflation (excluding energy and unprocessed food) was +3.8% (up from +3.2% in the previous month) and inflation excluding energy was +4.2% (up from +3.6% in May).
The annual rate of change of prices of Goods was +11.3% (from +9.7% in the previous month) and that of prices of Services was +3.4% (from +3.1%). As a consequence, the inflationary gap between Services and Goods was still negative and equal to -7.9 percentage points (-6.6 percentage points in May).
Prices of Grocery and unprocessed food increased by 1.1% on monthly basis and by 8.2% on annual basis (up from +6.7% in the previous month).
The increase on monthly basis of NIC was mainly due to the prices of Non-regulated energy products (+6.0%), of Services related to transport (+2.0%) of Processed food including alcohol (+1.6%), of Services related to recreation, including repair and personal care (+1.3%) and of Non-durable goods (+0.7%).
In June 2022 the Italian harmonised index of consumer prices (HICP) increased by 1.2% on monthly basis and by 8.5% on annual basis (from +7.3% in the previous month), the same as the flash estimate.
In the second quarter of 2022, inflation measured by HICP had an impact on households with lower purchasing power (+9.8%) larger than on those with greater spending power (+6.1%).