In August 2018, the Italian consumer price index for the whole nation (NIC) increased by 0.4% on monthly basis and by 1.6% compared with August 2017, up from +1.5% in July. The flash estimate was +1.7%.<\/p>\n
The slight acceleration of the growth on annual basis of All items index was mainly due to prices of Services related to transport (from +1.7% of the previous month to +2.8%). The prices of Energy products slowed their growth (from +7.9% of July to +7.7%), as well as those of Unprocessed food (from +3.6% to +3.1%).<\/p>\n
Inflation excluding energy and unprocessed food (core inflation) was +0.8% and inflation excluding energy was +1.1% (both in acceleration respectively from +0.7% and +0.9%).<\/p>\n
The increase on monthly basis of All items index was mainly due to the rises of prices of Services related to transport (+4.6%) mainly due to seasonal factors.<\/p>\n
The rate of change of prices of Grocery and unprocessed food was null compared with the previous month and +2.1% on annual basis (down from +2.2% in the previous month).<\/p>\n
In August, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) decreased by 0.2% compared with the previous month and increased by 1.6% with respect to August 2017 (from +1.9% in July). The flash estimate was +1.7%.The decrease on monthly basis was mainly due to the summer sales of Clothing and footwear (-8.8% compared with July 2018).<\/p>\n
The slowdown of HICP on annual basis is explained by the trend reversal of Clothing and footwear prices (from + 3.5% in July to -0.6%), for a greater impact of the summer sales registered for the whole August, compared to the previous month when they began not before the 7th of July.<\/p>\n
In August, core inflation (excluding energy and unprocessed food), measured by Italian HICP, was +0.8% (down from +1.1% in the previous month). Inflation excluding energy, food, alcohol and tobacco (+0.6%) and excluding energy (+1.0%) decelerated (respectively from +0.9% and from +1.3% in July 2018).<\/p>\n
In August, the Italian harmonised index of consumer prices at constant tax (HICP-CT) decreased by 0.2% on monthly basis and increased by 1.6% with respect to August 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 null.<\/p>\n","protected":false},"excerpt":{"rendered":"
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