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Italy Consumer Prices Decline More Than Estimated

Italy's consumer prices fell more than initially estimated in May, final data from the statistical office Istat showed on Monday.

The consumer price index dropped 0.2 percent year-on-year in May, after remaining unchanged in April. According to initial estimate, prices had fallen 0.1 percent.

The core inflation excluding prices of energy and unprocessed food, held steady at 0.8 percent in May. The rate was revised down from 0.9 percent.

On a month-on-month basis, consumer prices were down 0.2 percent in May, revised from 0.1 percent decline estimated initially.

The EU measure of harmonized index of consumer prices, or HICP, decreased 0.3 percent annually in May. The flash estimate showed an annual 0.2 percent fall for May.

On a monthly basis, the HICP declined 0.3 percent in May. According to the initial estimate, HICP had declined 0.2 percent.

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