Italy Inflation July 2022


Italy: Inflation decreases in July

August 10, 2022

Consumer prices rose 0.44% over the previous month in July, coming in below June's 1.17% rise. July's result marked the weakest reading since April. The deceleration was primarily due to softer price rises for food and non-alcoholic beverages. Moreover, prices for utilities dropped. However, transport price pressures accelerated.

Inflation dropped to 7.9% in July, following June’s 8.0%. Annual average inflation rose to 5.1% in July (June: 4.6%). Lastly, harmonized inflation edged down to 8.3% in July, from June’s 8.5%.

FocusEconomics panelists expect harmonized inflation to average 7.0% in 2022, which is up 0.3 percentage points from the previous month’s projection. For 2023, panelists expect harmonized inflation to average 3.4%.


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Italy Inflation Chart

Italy Inflation July 2022

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).

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