Rate of increase in Italian consumer prices fell in June

Italy’s annual rate of consumer price inflation fell to 1.1 per cent in June, down from 1.2 per cent the month before and lower than analysts’ expectations of a rise to 1.8 per cent.

Compared to the month before, the consumer price index (CPI) was flat, down from a 0.3 per cent rise in May but higher than predictions of a 0.4 per cent fall.

Harmonised across EU member states, CPI was up 1.2 per cent year-on-year, against a 1.4 per cent rise the month before and expectations of a 1.5 per cent rise. Monthly harmonised CPI was fell 1.8 per cent from a 0.3 per cent rise the month before (1.5 per cent fall expected).

Earlier today, it was revealed that unemployment in Italy fell slightly.