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Italy Inflation Eases As Estimated

Italy's consumer price inflation eased marginally as initially estimated in July, latest figures from the statistical office Istat showed on Wednesday.

Consumer price inflation slowed to 7.9 percent in July from 8.0 percent in June. That was in line with the flash data published on July 29.

Prices for energy alone grew 42.9 percent annually in July and those for processed food goods rose 9.5 percent.

Utility costs were 24.7 percent more expensive in July compared to last year, and prices for food and non-alcoholic beverages registered a sharp growth of 10.0 percent.

Excluding energy and fresh food, core inflation accelerated to 4.1 percent from 3.8 percent, as estimated.

Consumer prices rose 0.4 percent month-on-month in July, confirming the preliminary figure.

Inflation, based on the harmonized index of consumer prices, moderated to 8.4 percent in July from 8.5 percent in the previous month, as estimated.

Compared to the previous month, the HICP dropped 1.1 percent in July, in line with the flash data.

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