In July, the national consumer price index for the whole community (Nic), including tobacco, recorded an increase of 0,3% compared to the previous month and of 2,7% compared to the same month of the previous year (the same value recorded in June). The Istat communicates it.
The inflation acquired for 2011 is equal to 2,5%. Core inflation, calculated net of energy goods and fresh food, stabilizes at 2,1%. Excluding energy goods alone, the trend growth rate of the consumer price index drops to 2,1% from 2,2% in June. The tendential growth of the prices of goods drops to 2,8% from 3,0% in the previous month, while that of the prices of services rises to 2,7% (it was +2,6% in June).
As a consequence of these trends, the inflation differential between goods and services decreased by three tenths of a point compared to the month of June. The main effect of support to the dynamics of the general index, in July, derives from the cyclical increase of 2,0% in the prices of energy goods, which determines a clear acceleration of their growth rate (10,7% from 9,3, XNUMX% in June).
A significant impact also derives from the cyclical rise in the prices of services relating to transport (+1,9%). Conversely, the main containment effect is due to the cyclical decrease in the prices of unprocessed food goods (-2,5%). The prices of the most frequently purchased products are unchanged on a monthly basis and increase by 3,4% on an annual basis (it was +3,5% in June). A cyclical increase of 0,8% was recorded for medium-frequency purchase prices, which grew by 2,8% compared to July 2010.
The harmonized index of consumer prices (HICP) decreased by 1,7% on a monthly basis and increased by 2,1% on an annual basis (it was +3,0% in June). Also in this case the preliminary estimate is confirmed. The clear deceleration of the trend rate is partly attributable to the new method of calculating the price indices of seasonal products adopted since January 2011 in application of Regulation (EC) no. 330/2009. The national consumer price index for blue and white collar households (FOI), net of tobacco, increased by 0,3% on a monthly basis and by 2,7% compared to July 2010.
