Deflation hit Italy as consumer
prices fell 0.1% in August, Istat said in preliminary estimates
Friday.
The price index had risen 0.1% in July.
Fuel prices, 1.2% lower than the same month in 2013, led
the downward price spiral, Istat said.
It is the first deflation in more than 50 years, since
September 1959, Istat said.
But back then, unlike now, the economy was growing
strongly, it said.
The consumer price index fell 1.1% in September 1959 after
seven straight months of drops.
The 'shopping trolley' of most commonly bought goods went
into deflation in August too, Istat said.
The prices of food, household goods and personal care goods
fell by 0.2% over the year, it said in its preliminary
estimates.
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