Istat, inflation in May records +0.3% but falls on an annual basis
Istat registers a increased 0.3% MoM in Maywhile it decreases on an annual basis, confirming the Institute’s preliminary estimate.
The deceleration of the inflation rate it is due, in the first place, to the slowdown on a trend basis in the prices of Energy assets unregulated (from +26.6% to +20.3%) and, to a lesser extent, those of processed food (from +14.0% to +13.2%), of other goods (from +5, 3% to +5.0%), Services related to transport (from +6.0% to +5.6%) and Recreational, cultural and personal care services (from +6.9% to + 6.7%). Such effects were only partly offset by upward tensions in unprocessed food prices (from +8.4% to +8.8%) and those of services relating to housing (from +3.2% to +3.5%).
Core inflation– so-called “core” – therefore net of energy, food, alcohol and tobacco, shows a slight slowdown from +6.2% to +6.0%, as well as that net of energy goods alone, which increased from +6.3% to +6.2%.
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Istat, annual pressure drops: from +8.2% to +7.6%
On an annual basis, Istat registers instead a lowering which brings the figure from +8.2% in the previous month to +7.6% rearranging itself therefore on the result of March.
And dampens the year-on-year growth in asset prices (from +10.3% to +9.3%) and to a lesser extent that relating to services (from +4.8% to +4.6%), bringing the inflationary differential between the services sector and the goods sector to -4.7 percentage points, from -5.5 in April. The prices of food, home and personal care goods slow down in trend terms (from +11.6% to +11.2%), as do those of frequently purchased products (from +7.9 % to +7.1%).
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Lcyclical increase of the general index is mainly due to the unprocessed food prices (+1.5%), recreational, cultural and personal care services (+1.0%), processed food (+0.6%) and housing services (+0.4% ), which is opposed by the drop in the prices of unregulated (-1.6%) and regulated (-0.2%) Energy.
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