The annual inflation rate in Italy slowed to 7.9 percent in July of 2022
The annual inflation rate in Italy slowed to 7.9 percent year-on-year in July of 2022, easing from the 36-year high of 8 percent in the prior month and in line with preliminary estimates, suggesting inflation may have peaked.
Prices decelerated for energy (42.9 percent vs 48.7 percent in June), largely due to slowing costs of regulated energy (47.9 percent vs 64.3 percent), and recreational and cultural services (4.5 percent vs 5 percent.(
On the other hand, costs continued to rise faster for processed food (9.5 percent vs 8.1 percent), and transportations services (8.9 percent vs 7.2 percent(.
Core inflation, excluding energy and unprocessed food, rose to 4.1 percent from 3.8 in the previous month, while inflation excluding energy jumped to 4.7 percent from 4.2 percent.
On a monthly prices, consumer prices increased by 0.4 percent, in line with previous estimates.
