Istat, inflation is sharply down in June: only +6.4% – Corriere.it

The price run slows down significantly in June. During the month, inflation fell to 6.4% from 7.6% in May. Istat communicates it underlining that it is a question of “a clear deceleration”, which continues to be strongly influenced by the dynamics of the prices of energy goods in sharp decline. (Here the analysis by Federico Fubini).

Core inflation, net of energy and fresh food, slowed further (from +6.0% to +5.6%). Finally, the phase of slowdown in the trend growth of prices continues «shopping cart», which in June was +10.5%. The prices of food, home and personal care goods therefore slow down in trend terms from +11.2% in May, as do those of frequently purchased products (from +7.1% to +5.7 %).

Istat writes. «The slowdown in inflation continues to be strongly influenced by the dynamics of the prices of energy goods, in particular of the unregulated component, appreciably down compared to May. In the food sector, the further slowdown in the annual growth rate of the prices of processed products contributes to the deceleration of core inflation (which fell to +5.6%). Istat then underlines which categories suffer most from inflation. It reads: «In the second quarter of 2023 the impact of inflation is greater on households with lower spending power than on those with higher spending levels (+9.4% and +7.1% respectively). However, compared to the previous quarter, the slowdown in inflation is more marked for the first of the two groups».