ITALY DATA: Prelminary July HICP -1.6% m/m, +3.7% y/y, up from +3.6% y/y
in June.
– HICP m/m index decline on impact of summer discount sales, ISTAT said.
– Main domestic index (NIC) flat m/m, +3.0% y/y, down from +3.3% y/y in
June and lowest since Sept 2011 on slowdown in energy inflation y/y.
– Core NIC inflation steady at +2.2% y/y
– Net of energy rate also stable at +2.3% y/y, same rise as in June