Consumer prices (provisional)

In June 2018, according to preliminary estimates, the Italian consumer price index for the whole nation (NIC) increased by 0.3% on monthly basis and by 1.4% compared with June 2017 (+1.0% in May 2018).

The acceleration of the growth on annual basis of All items index was mainly due to prices of Non-regulated energy products (from +5.3% to +9.4%), of both Processed and Unprocessed food (respectively from +1.7% to 2.4% and from +2.4% in May to +3.4%) and to prices of Services related to transport (from +1.7% to +2.9%).

Inflation excluding energy and unprocessed food (core inflation) was +0.9% and inflation excluding energy was +1.2% (both accelerated from +0.8% in May).

The increase on monthly basis of All items index was mainly due to the rises of prices of Non-regulated energy products (+2.3%), of Services related to transport (+2.2%) and of Processed food including alcohol (+0.8%).

The annual rate of change of prices of Goods was +1.7% (up from +1.0% in May) and that one of prices of Services was +1.0% (from +0.9% in the previous month). As a consequence, the inflationary gap between Services and Goods was negative and equal to -0.7 percentage points (-0.1 in May).

Prices of Grocery and unprocessed food increased by 0.2% on monthly basis and by 2.6% on annual basis (up from +1.7% in the previous month).

In June 2018, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 0.3% compared with May and by 1.5% with respect to June 2017 (it was +1.0% in the previous month).

In May core inflation (excluding energy and unprocessed food), measured by Italian HICP, was +0.9% (up from +0.8% in the previous month). Inflation excluding energy, food, alcohol and tobacco (+0.7%) and excluding energy (+1.2%) accelerated (respectively from +0.6% and +0.9% in the previous month).