Advertisement

May inflation steady in recession-hit Italy

AFP
AFP - [email protected]
May inflation steady in recession-hit Italy
File photo: Images of money/Flickr

Italian consumer price inflation remained stable in May from April at an annual rate of 1.1 percent, official data released on Wednesday showed, in another sign of the softness of the economy in the recession-hit eurozone nation.

Advertisement

Core inflation, excluding volatile food and energy prices, edged up to 1.3 percent in May from 1.2 percent in April, said the national statistics institute (ISTAT).

Austerity measures implemented by the Italian government to rein in the public finance deficit have dampened consumer spending and helped keep a lid on inflation.

The Italian economy shrank by 0.6 percent in the first quarter of the year, marking the seventh quarterly contraction in a row.

According to the European Central Bank's yardstick, the harmonised index of consumer prices (HICP), 12-month inflation held steady at a rate of 1.3 percent in May, ISTAT said.

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also