Inflation in Italy, June 2022

Consumer prices rose 1.17% in June from the previous month after rising 0.82% in May. June’s result was the highest since January. Judging by the details of the release, the acceleration was largely due to faster growth in the prices of unregulated energy and transport.

Inflation in June was 8.0% compared to 6.8% in May. June figures marked the highest rate of inflation since 1986. Meanwhile, the trend was upward, with average annual inflation of 4.6% in June (May: 4.0%). Finally, harmonized inflation rose to 8.5% in June from 7.3% in the previous month.

FocusEconomics expects harmonized inflation to average 6.7% in 2022, up 0.4 percentage points from the previous month’s forecast. In 2023, experts expect consistent inflation to average 2.9%.