In Italy inflation was stable in May at 0.8%. In the Eurozone it rose to 2.6%.
ISTAT also provided indications on the quarterly economic accounts for the first quarter of 2024: it confirmed the cyclical estimates of 30 April and revised the trend estimates upwards a little, which indicated growth of 0.6% (now +0.7%)
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Stable inflation in Italy. According to preliminary estimates, in May 2024 the national consumer price index for the whole of Nic, before tobacco, increased by 0.2% on a monthly basis and by 0.8% on an annual basis, as in the previous month. Acquired inflation for 2024 is +0.8% for the general index and +1.8% for the core component. This was announced by Istat.
Slow the feed, rise the energy
.The stabilisation of the pace of price growth, the statistics agency explains, is mainly due to the easing of tensions on the prices of processed foodstuffs (+2.1% from +2.5% in April) and certain types of services (transport and housing), the effects of which offset the weakening of deflationary pressures from the energy sector, where prices show a tendential profile in clear upward trend, although remaining at largely negative values (-11.7% from -12.1% in the previous month). The year-on-year dynamics of "shopping trolley" prices continued their descent (+2.0% from +2.3%), as did core inflation, which stood at +2.0% (from +2.1%).
In the Eurozone it rose to 2.6 % in May
.Inflation, on the other hand, rose again in the Eurozone. In May, the average rate in the twenty eurozone countries is expected to stand at 2.6%, up from 2.4% in April, when it was stable compared to March. This was announced by Eurostat on the basis of its first flash estimate of consumer price developments.
Italian inflation in May the third lowest in the Eurozone
In May, inflation in Italy, down slightly to 0.8% from 0.9% in April, remained the third lowest in the Eurozone. This is what emerges from the data released with Eurostat's first flash estimate. Among the twenty euro club countries, in April the average consumer price rate - calculated with the Ipca index - was lower only in Latvia (0.2%) and Finland (0.5%). Like Italy, Lithuania also recorded 0.8%. In Germany, inflation rose to 2.8%, compared to 2.4% in April.
GDP, Istat raises estimate to +0.7% year-on-year
On Friday, 31 May, Istat also provided information on the quarterly economic accounts for the first quarter of 2024. In that timeframe, the gross domestic product (GDP), expressed in chain-linked values with reference year 2015, adjusted for calendar effects and seasonally adjusted, increased by 0.3% compared to the previous quarter and by 0.7% compared to the first quarter of 2023. In essence, the statistical agency confirmed the cyclical estimates of 30 April and revised the trend estimates slightly upwards, which indicated a growth of 0.6%.
