According to Istat, inflation also fell in July: +5.9% in July

The slowdown in inflation in Italy is confirmed. In July, according to theistat, The consumer price index posted growth of 5.9% on an annual basis while remaining flat on a monthly basis, versus 6% and +0.1% communicated on a preliminary basis. The growth of the so-called “shopping basket” also slowed down for the fifth consecutive month, reaching +10.2% in July (+10.7% in June).

The slowdown in inflation, explains Istat, will happen “in a framework for price stability at the economic level“. Inflation calculated for 2023 remains stable at +5.6% for the general index, while it stands at +5.1% for the core component. The Harmonized Index of Consumer Prices (Ipca) decreases by 1.6% and increases by 6 monthly .3%% yoy (slowing down from +6.7% in June) vs. +6.4% preliminary estimate.

The deceleration of the inflation rate is primarily due to the deceleration of trend growth in prices for transport services (from +4.7% to +2.4%), for non-regulated energy goods (from +8.4%), the institute explains % +7.0%), in processed food (from +11.5% to +10.5%) and to a lesser extent in other goods (from +4.8% to +4.5%) and the extension of the decline on an annual basis of regulated energy (from -29.0% to -30.3%).

“The dynamics of inflation, which is still strongly influenced by the evolution of the prices of energy goods, also reflects the trend slowdown in the prices of processed foods, which nevertheless show a relatively sustainable growth rate, and services,” explains l’Istat.

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