They curb inflation and the increase in shopping cart prices. The merit is largely due to the drop in the price of fuel, according to what was found by Istat, which reports that in May the annual inflation rate slowed down slightly, falling to 3,2% from 3,3% in April.
On a monthly basis consumer prices remain unchanged, with no cyclical variation. The slowdown is precisely affected by the monthly drop in unregulated energy goods, i.e. fuels. The increase in the price of the shopping cart is also slowing down: translated, the prices of the products most frequently purchased by consumers decrease by 0,1% on a monthly basis and the trend growth rate drops to 4,2%. However, the inflation acquired for 2012 remains at 2,7%.
Core inflation, calculated net of energy goods and unprocessed food, fell to 2,2% from 2,3% in April. Excluding energy goods alone, the trend growth rate of the consumer price index drops to 2,1% (it was +2,2% in the previous month). Compared to a year earlier - adds Istat - the growth rate of goods prices drops to 4,0% from 4,2% in the previous month and that of services prices drops to 2,1% (it was +2,2% in April). As a result, the inflation differential between goods and services decreases by a tenth of a point compared to April.
The harmonized index of consumer prices (Ipca) is unchanged on the previous month and records an increase of 3,5% on the corresponding one in 2011 (it was +3,7% in April). Also in this case the preliminary estimates are confirmed. The constant-tax Ipca index (Ipca-Tc) records no change on a monthly basis and an increase of 2,5% in trend terms. The national consumer price index for blue-collar and white-collar households (Foi), net of tobacco, recorded a decrease of 0,1% on a cyclical level and a growth of 3,0% on a trend basis.
