In June 2018, the Italian consumer price index for the whole nation (NIC) increased by 0.2% on monthly basis and by 1.3% compared with June 2017 (+1.0% in May 2018). The flash estimate was +1.4%.<\/p>\n
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%) and, to a lesser extent, of Unprocessed food (+2.4% in May to +3.4%) and of Services related to transport (from +1.7% to +2.9%).<\/p>\n
As a consequence, inflation excluding energy and unprocessed food (core inflation) was +0.8% (as in the previous month) and inflation excluding energy was +1.0% (from +0.8% in May).<\/p>\n
The increase on monthly basis of All items index was mainly due to the rises of prices of Non-regulated energy products (+2.3%) and of Services related to transport (+2.2).<\/p>\n
The annual rate of change of prices of Goods was +1.5% (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 -0.5 percentage points (-0.1 in May).<\/p>\n
Prices of Grocery and unprocessed food decreases by 0.2% on monthly basis and increased by 2.2% on annual basis (up from +1.7% in the previous month).<\/p>\n
In June 2018 the Italian harmonised index of consumer prices (HICP) increased by 0.2% compared with May and by 1.4% with respect to June 2017 (it was +1.0% in the previous month).The flash estimate was +1.5%.<\/p>\n
In May core inflation (excluding energy and unprocessed food), measured by Italian HICP, was +0.8% (as in the previous month). Inflation excluding energy, food, alcohol and tobacco (+0.7%) and excluding energy (+1.1%) accelerated (respectively from +0.6% and +0.9% in the previous month).<\/p>\n
In June 2018, the Italian harmonised index of consumer prices at constant tax (HICP-CT) increased by 0.2% compared with the previous month and by 1.3% with respect to June 2017. Therefore, the difference between HICP and HICP-CT growth rates, which incorporates the effects of changes in indirect taxes occurred in the last twelve months, was positive and equal to 0.1 percentage points.<\/p>\n
In the first half of 2018, Italian HICP by population subgroups defined according to the consumption expenditure level, exhibited a slight slowdown for the first four groups of families, while for the fifth group (probably the most well-off families) the inflation rate remained roughly at the corresponding levels measured in the last quarter of 2017.<\/p>\n
Specifically, in the first quarter of 2018, inflation rates varied in a range between +1.0% of the first subgroup (20% of the households with the lowest equivalent expenditure) and +0.8% of the last subgroup (20% of the households with the highest equivalent expenditure). In the same period, headline inflation, as measured by HICP, increased by 0.9%. In the second quarter the inflation rate increased slightly for both the first subgroup (+1.1%) and the last one (+0.9%). In the same period, headline inflation, as measured by HICP, increased by 1.0%.<\/p>\n","protected":false},"excerpt":{"rendered":"
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