ITALY DATA: July retail sales were unchanged m/m in seasonally-adjusted
terms as a result of a drop in non-food sales and a rise in food sales,
following a gain of +0.5% m/m in June and a fall of 0.3% m/m in May. In
unadjusted y/y terms, retails sales rose 1.7%, up from +0.7% in June.
–The three month-moving average fell 0.1% in the months from May to
July 2010, compared with the previous 3 months.
–Italy’s domestic ‘NIC’ inflation index rose 1.7% y/y in July