Istat: inflation in May returns negative to -0.2%

In May, inflation in Italy turned negative for the first time since October 2016 (when the drop in the general index was -0.2%). Istat notes this. In the month, the national consumer price index for the whole community (Nic), gross of tobaccos, recorded a decrease of 0.2% both on a monthly and an annual basis (in April the trend variation was zero). The preliminary estimate was -0.1%. To determine this trend - explains Istat in the comment - is above all the sharp drop in fuel prices (one of the most volatile components of the basket), which pushes the decrease in the prices of energy products to a full extent (-12.7% from -7.6%) which has not been recorded since July 2009 (when it stood at -14.6%). Net of energy, inflation rises to + 1.0% and the underlying component to + 0.8%. 'Core inflation', net of energy and fresh food, and inflation net of energy only, remained stable at + 0.8% and + 1.0% respectively. The downturn in the general index was also mainly due to the decrease in the prices of unregulated energy goods (-4.2%), only partially offset by the increase in the prices of unprocessed food goods (+ 1.2% ). Inflation acquired in 2020 is equal to -0.1% for the general index and + 0.6% for the underlying component. The harmonized index of consumer prices (HICP) decreased by 0.3% both on a monthly and annual basis (from + 0.1% in the previous month); the preliminary estimate was -0.2%. Finally, the national consumer price index for blue and white-collar worker households (Foi), net of tobaccos, recorded a decrease of 0.2% on a monthly basis and of 0.4% on an annual basis. Istat recalls that the May consumer price indices were drawn up in the context of the health emergency due to the spread of coronavirus in Italy, which saw the suspension of the activities of large segments of the supply of consumer goods and services continue . The establishment of the consumer price survey, based on the use of a plurality of channels for data acquisition, has made it possible to reduce the negative effects of the high number of missing surveys.

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June 15, 2020 In May, inflation in Italy turned negative for the first time since October 2016 (when the drop in the general index was -0.2%). Istat notes this.

In the month, the national consumer price index for the whole community (Nic), gross of tobaccos, recorded a decrease of 0.2% both on a monthly and an annual basis (in April the trend variation was zero). The preliminary estimate was -0.1%.

To determine this trend - explains Istat in the comment - is above all the sharp drop in fuel prices (one of the most volatile components of the basket), which pushes the decrease in the prices of energy products to a full extent (-12.7% from -7.6%) which has not been recorded since July 2009 (when it stood at -14.6%). Net of energy, inflation rises to + 1.0% and the underlying component to + 0.8%.

'Core inflation', net of energy and fresh food, and inflation net of energy only, remained stable at + 0.8% and + 1.0% respectively. The downturn in the general index was also mainly due to the decrease in the prices of unregulated energy goods (-4.2%), only partially offset by the increase in the prices of unprocessed food goods (+ 1.2% ).

Inflation acquired in 2020 is equal to -0.1% for the general index and + 0.6% for the underlying component.

The harmonized index of consumer prices (HICP) decreased by 0.3% both on a monthly and annual basis (from + 0.1% in the previous month); the preliminary estimate was -0.2%.

Finally, the national consumer price index for blue and white-collar worker households (Foi), net of tobaccos, recorded a decrease of 0.2% on a monthly basis and of 0.4% on an annual basis.

Istat recalls that the May consumer price indices were drawn up in the context of the health emergency due to the spread of coronavirus in Italy, which saw the suspension of the activities of large segments of the supply of consumer goods and services continue .

The establishment of the consumer price survey, based on the use of a plurality of channels for data acquisition, has made it possible to reduce the negative effects of the high number of missing surveys.

Istat: inflation in May returns negative to -0.2%

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