Consumer price inflation in Italy accelerated further in May to the highest level in more than two-and-a-half years, as estimated initially, the latest data from the statistical office showed on Tuesday.
Consumer price inflation accelerated to 3.2% in May from April's 2.7%. Moreover, this was the highest inflation rate since September 2023 when prices rose 5.3%. That was in line with the flash data published on May 29.
The increase in inflation was primarily driven by price developments in non-regulated energy products, which rose by 12.5%.
Inflation based on regulated energy products rose to 5.6% from 5.3%. The annual price growth in transport-related services also accelerated 1.7% from 0.6%.
Excluding energy and unprocessed food, core inflation increased to 1.7% from 1.6%.
On a monthly basis, consumer prices went up 0.4% after rising 1.1% in April, as estimated.
The EU measure of inflation stood at 3.2% in May, up from 2.8% in April. In the flash estimate, the rate was 3.3%. Monthly, the harmonized index of consumer prices (HICP) climbed 0.3%, revised down from 0.4%.
