The growth of consumer prices is still slowing down. In June 2014, according to Istat, the national consumer price index, gross of tobacco, increased by 0,1% compared to the previous month and by 0,3% compared to June 2013 (it was +0,5 .0,3% in May), confirming the preliminary estimate. The slowdown to 5% yoy is the lowest level in almost 2009 years, i.e. since October XNUMX.
“The decline in inflation – explains Istat – is primarily due to the accentuation of the decrease in the prices of unprocessed foodstuffs; the decelerations in the annual growth of the prices of processed foods, unregulated energy goods and services relating to housing also contribute to a lesser extent”.
Core inflation, excluding unprocessed food and energy goods, fell to 0,7% (from 0,8% in May) and excluding energy goods alone, it fell to 0,5% (from + 0,6% of the previous month). The monthly increase in the general index is mainly attributable to increases in the prices of services relating to transport (+0,7%), influenced by factors of a seasonal nature.
Inflation acquired for 2014 is stable at 0,3%. Compared to June 2013, the prices of goods decreased by 0,3% (it was -0,1% in May) and the growth rate of the prices of services decreased to 0,8% (from +0,9% in the previous month ). Thus, the inflation differential between services and goods widens by a tenth of a percentage point compared to May 2014.
The prices of food, home and personal care goods did not change in cyclical terms, while they decreased by 0,5% in trend terms (from +0,1% in the previous month). The prices of frequently purchased products grew by 0,1% compared to the previous month and by 0,3% compared to June 2013 (from the +0,5% recorded in May).
