Italian deflation dropped this
month, with an annual inflation rate of -0.3%, compared to -0.5%
in April, thanks to a 0.3% rise in the month-on-month consumer
price index, according to provisional data released by Istat on
Tuesday. The national statistics agency said the continuation of
deflation was linked to the drop in energy prices, down 0.8% on
May 2015. If energy were excluded from the calculations, Italy
would have an annual inflation rate of 0.5%. Istat said the
month-on-month rise was down to increases in tobacco and
unprocessed food prices.
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