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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Three experimental physicists - Alain Aspect, John F. Clauser and Anton Zeilinger - have won this year's Nobel Prize for physics for their achievements in quantum mechanics. Announcing the winners in Stockholm Tuesday, the Royal Swedish Academy of Sciences said the coveted prize was awarded to the trio "for experiments with entangled photons, establishing the violation of Bell inequalities and pi The United States has announced that it will be imposing new round of sanctions this week on perpetrators of violence against peaceful protestors in Iran. The United States is also holding accountable Iranian officials and entities such as the Morality Police, that are responsible for employing violence to suppress civil society, President Joe Biden said in a statement. Biden said he is gravel Factory Orders, Job Openings, and Labor Turnover Survey might be the major highlights on Tuesday. Fed speeches also will get attention. Early signs from the U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished broadly up and European shares are progressing. As...
Follow RTT