Italy Inflation Confirmed At 32-month High

(RTTNews) - Consumer price inflation in Italy accelerated further in May to the highest level in more than two-and-a-half years, as estimated initially, the latest data from the statistical office showed on Tuesday.

Consumer price inflation accelerated to 3.2 percent in May from April's 2.7 percent. Moreover, this was the highest inflation rate since September 2023, when prices rose 5.3 percent. That was in line with the flash data published on May 29.

The rise in inflation was mainly influenced by the price developments in non-regulated energy products, which grew by 12.5 percent.

Inflation based on regulated energy products rose to 5.6 percent from 5.3 percent. The annual price growth in transport-related services also accelerated 1.7 percent from 0.6 percent.

Excluding energy and unprocessed food, core inflation increased to 1.7 percent from 1.6 percent.

On a monthly basis, consumer prices went up 0.4 percent after rising 1.1 percent in April, as estimated.

The EU measure of inflation was 3.2 percent in May, up from 2.8 percent in April. In the flash estimate, the rate was 3.3 percent. Monthly, the HICP climbed 0.3 percent, revised down from 0.4 percent.