Italy Inflation Rises; Jobless Rate Falls

Italy's consumer price inflation increased in July, preliminary estimates from the statistical office Istat showed on Friday.

Consumer prices increased 1.8 percent yearly in July, following a 1.3 percent rise in June. Economists had forecast a rise of 1.7 percent.

On a month-on-month basis, consumer prices rose 0.3 percent in July. Economists had expected a 0.2 percent rise.

The core inflation rose to 0.6 percent in July from 0.3 percent in the prior month.

Inflation, based on the harmonized index of consumer prices, eased to 0.9 percent in July from 1.3 percent in the previous month. Economists had forecast a rise of 1.0 percent.

The HICP fell 1.1 percent monthly in July. This was in line with economists' expectation.

Separate data from the statistical office showed that jobless rate fell to 9.7 percent in June from 10.2 percent in May. Economists had expected a 10.4 percent.

The youth unemployment rate, applied to 15-24 years decreased to 29.4 percent in June from 30.7 percent in the previous month.

The employment rate rose slightly to 57.9 percent in June from 57.5 percent in the preceding month.

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