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September 16, 2019In August inflation rose 0.4% both on a monthly and annual basis. In August, according to Istat, it is estimated that the national consumer price index for the entire community, gross of tobacco, shows an increase of 0.4% on a monthly basis and 0.4% on annual basis (confirming the July figure); the preliminary estimate was + 0.5%.Inflation stability is the result of a picture with few deviations compared to July; of note only the slight acceleration of the prices of non-durable goods (from + 0.2% to + 0.6%).
Both core inflation, net of energy and fresh food, and net of energy goods alone are stable compared to July, at + 0.5% and + 0.6% respectively.
The cyclical increase in the general index is mainly due to the growth in transport services prices (+ 4.5%), mainly due to seasonal factors.
Inflation is zero for goods (from -0.1%) and slows down for services (from + 1.0% to + 0.8%); the inflation differential between services and goods remains positive and equal to +0.8 percentage points (it was +1.1 in July).
Inflation acquired for 2019 is + 0.8% for both the general index and the underlying component. The prices of foodstuffs, for home and personal care, increased by 0.7% on an annual basis (from + 0.6% in July), those of high-frequency purchasing products remained stable at +0.7 %, recording in both cases a more sustained growth than that referred to the entire basket.
The harmonized index of consumer prices (HICP) has no change on a monthly basis and 0.5% in trend terms (accelerating from + 0.3% recorded in the previous month), confirming the preliminary estimate. The national consumer price index for workers 'and employees' households (FOI), net of tobacco, recorded an increase of 0.5% on a monthly basis and of 0.3% compared to August 2018.