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Italy Inflation Rises More Than Expected

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

Consumer prices gained 8.0 percent yearly in June, following a 6.8 percent rise in May. Economists had forecast a rise of 7.4 percent.

On a month-on-month basis, consumer prices rose 1.2 percent in June.

The monthly growth was mainly due to prices of non-regulated energy products that grew 6.0 percent and those of services related to transport that rose by 2.0 percent. Prices of processed food including alcohol increased 1.7 percent.

The core inflation accelerated to 3.8 percent in June from 3.2 percent in the previous month.

Inflation, based on the harmonized index of consumer prices, rose to 8.5 percent in June from 7.3 percent in the previous month. Economists had forecast 7.8 percent inflation.

The HICP rose 1.2 percent monthly in June, which was faster than the 0.8 percent increase economists had forecast.

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