Italy May final CPI 0.0% vs +0.1% m/m prelim
Latest data released by Istat - 14 June 2019
- CPI +0.8% vs +0.9% y/y prelim
- HICP +0.1% vs +0.1% m/m prelim
- HICP +0.9% vs +0.9% y/y prelim
Slight delay in the release by the source. Preliminary figures can be found here. The annual headline reading is adjusted softer and that sees it fall to its weakest level since April 2018 - which is a bit distorted due to the earlier Easter date at the time.
Given that we're seeing the Easter seasonality factor start to fade this time around, it presents some serious concerns especially with the market gauge of long-term euro area inflation expectations continuing to hit record lows today.