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Italy June inflation holds at 3% as core eases to 1.6%
Italy reported June headline inflation at 3.0% year over year, while core HICP slowed to 1.6% from 1.7% in May.
Italy’s June inflation data came in at a 3.0% year over year headline rate, confirmed at the final release, with the EU harmonized measure also at 3.0% after a marginal revision lower from the preliminary estimate.
Core inflation eased slightly to 1.6% in June from 1.7% in May, as the report showed both food and services inflation cooled.
Food inflation fell to 3.3% from 3.4%, and services inflation declined to 2.6% from 2.8%, contributing to the softer core figure, according to Forexlive.
The release suggests Italy is less of a concern for the European Central Bank than countries such as Spain and Germany, with the broader price dynamics described as similar to France.