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On the one hand, the prices of energy (from +48.7 per cent to +42.9 per cent), specifically those of regulated energy products (from +64.3 per cent to +47.9 per cent), slowed down (those of non-regulated energy products moved from +39.9 per cent to +39.8 per cent) together with the prices of services related to recreation, including repair and personal care (from +5.0 per cent to +4.6 per cent), according to the ‘July 2022 Consumer Prices Final Data’ report by the Italian National Institute of Statistics (ISTAT).
In July 2022, the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.4% on a monthly basis and +7.9% on an annual basis (from +8.0% in June), which was the same as the flash estimate. The growth on an annual basis of the all-item index remains high even though it was reduced by a tenth of a percentage point.
On the other hand, the prices of processed food including alcohol (from +8.1 per cent to +9.5 per cent), of services related to transport (from +7.2 per cent to +8.9 per cent), of non-durable goods (from +2.9 to +3.6 per cent), of durable goods (from +2.8 per cent to +3.3 per cent) and of services — miscellaneous (from +1.1 per cent to +1.6 per cent) sped-up.
The annual rate of change of prices of goods was +11.1 per cent (from +11.3 per cent in the previous month) and that of prices of services was +3.6 per cent (from +3.4 per cent). As a consequence, the inflationary gap between services and goods was still negative and equal to -7.5 percentage points (-7.9 percentage points in June), as per ISTAT.
In July 2022, the Italian harmonised index of consumer prices (HICP) decreased by 1.1 per cent on a monthly basis (due to the summer sales not considered by NIC) and it increased by 8.4 per cent on an annual basis (from +8.5 per cent in the previous month), the same as the flash estimate.
Fibre2Fashion News Desk (NB)
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