Inflation back down to 7.6% in May - ISTAT

(ANSA) - ROME, MAY 31 - Italy's annual inflation rate fell to 7.6% in May, down from 8.2% in April, according to a preliminary estimate released by ISTAT on Wednesday.
    The drop took the inflation rate back down to the level of March.
    "The slow down of the annual inflation rate was mainly due to the prices of non-regulated energy products (from +26.6% to +20.5%) and, to a lesser extent, of processed food including alcohol (from +14.0% to +13.4%), of services related to transport (from +6.0% to +5.5%) and of non-energy industrial goods (from +5.3% to +5.1%)," the national statistics agency said.
    April's inflation spike ended several months of falls in the annual rate.
    Driven by soaring energy prices after Russia's invasion of Ukraine, inflation peaked at 11.8% in October and November and had been on a downward trend until April.
    ISTAT said its consumer price index was up by 0.3% in month-on-month terms in May. (ANSA).