Italian inflation slows less than expected in July

Italian inflation slows less than expected in July

Official data showed that consumer prices in Italy, coordinated with the European Union, fell by 1.1% in July, and on an annual basis, inflation fell by 0.9% in July, the lowest level since March. The official statistics agency said the main domestic price index (NIC) rose 0.3% in July, and year-on-year inflation rose 1.8% in July versus 1.3% in June. Year-on-year core inflation excluding food and energy on the HICP fell to -0.6% in July after falling to a record 0.3% in June, and July saw an unusually strong divergence between domestic and EU-harmonized indicators.