Istat, prices slightly up in June + 0.1% on the month, -0.2% on the year – Economy

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Inflation remains negative for the second consecutive month. After the first fall in May already in May, the weight of particularly depressed fuel prices in June also dragged the index back into negative territory. The good performance of the shopping cart was not enough to counteract them: the combined effect of the two main trends led the consumer price index, recorded today according to traditional preliminary estimates by Istat, to register an annual decrease of 0, 2%, even if at monthly level it returned to slightly positive territory with a + 0.1%. “The drop in consumer prices on an annual basis, recorded for the second consecutive month, continues to be the product of opposing forces: deflationary ones coming from the prices of energy goods and those rising from food goods, for the care of the home and the person “explain to Istat reminding that” underlying inflation, albeit slightly slowing down, is therefore positive (+ 0.7%) “.

And it is this latter fact that makes the Confcommercio study center say that “the data on underlying inflation which, despite its limited values, is confirmed in positive territory, gives hope that deflation is only a temporary problem”. Going to analyze in detail the main items of the index, the strong contraction in the prices of energy goods (-12.1%), both in the regulated (-14.1%) and in the unregulated ( -11.2%). Food prices, on the other hand, continue to grow (+ 2.5%), with an acceleration of those of unprocessed food (from + 3.7% in May to + 4.1%) and a slight slowdown in food prices. processed (from + 1.7% to + 1.5%). Coldiretti explains that fruit prices are even 11.1% higher than in the same period last year, due to the crazy climate that has upset crops and reduced availability on the markets. To record growth rates above the percentage point are also the prices of tobaccos (+ 3.0%) and various services (+ 1.4%) which contrast, together with those of food, the deflationary pressures of energy goods.

At the economic level, however, Istat explains that the slight increase in the general index is mainly due to the growth in the prices of transport services (+ 2.1%), supported by the usual seasonal factors. The so-called shopping cart continues to run, albeit with a slight slowdown: food prices for home and personal care in fact rise by 2.3% in June, slightly less than + 2.4% in May . Finally, the prices of products with high purchasing frequency are starting to rise again, going from a zero change to + 0.2%. At this point, inflation acquired for 2020 is zero for the general index and + 0.7% for the underlying component.



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