Istat, July inflation in Italy rises to 1.3%. Eurostat: in the euro area it grows at 2.6%
The slight acceleration, the statistics agency explains, reflects the softening of the trend-based decline in the prices of energy goods (-4.1% from -8.6% in June), due to both the regulated and non-regulated components
2' min read
2' min read
According to preliminary ISTAT estimates, in July 2024 the national consumer price index for the entire community (NIC), before tobacco, rose by 0.5% on a monthly basis and 1.3% on an annual basis, from +0.8% in the previous month.
Inflation, therefore, rose slightly to 1.3%. This acceleration, the statistics agency explained, reflects a softening of the trend-based decline in the prices of energy goods (-4.1% from -8.6% in June), due to both the regulated and unregulated components. On the other hand, in the food sector, prices of unprocessed goods, as well as those of processed goods, showed a softening in their year-on-year growth, which contributed to the slowdown in the growth rate of 'shopping trolley' prices (+0.8% from +1.2%). In July, core inflation remained stable at +1.9%.
The trend in goods prices, while remaining negative, picked up (from -0.7% to -0.1%) and that in services accelerated slightly (from +2.8% to +3.0%). The inflation differential between the services and goods sectors thus increased to +3.1 percentage points (from +3.5 in June).
The accepted inflation for 2024 is +1.0% for the overall index and +2.0% for the core component.
Eurozone inflation up slightly, to 2.6% in July
Annual inflation in the euro area is expected to stand at 2.6 % in July 2024, up from 2.5 % in June. This is announced by Eurostat's flash estimate. Looking at the main components of inflation, Eurostat forecasts that services will have the highest annual rate in July (4.0%, up from 4.1% in June), followed by food, alcohol and tobacco (2.3%, up from 2.4% in June), energy (1.3%, up from 0.2% in June) and non-energy industrial goods (0.8%, up from 0.7% in June).
