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Italian annual inflation accelerates in August

Italy's harmonized annual inflation grew 0.5% in August, following a 0.3% annual rise in July, data from the country's National Institute of Statistics showed.

On a yearly basis, prices of food, alcohol and tobacco climbed 1.1% and those of energy declined 2%. Month over month, consumer prices were unchanged in August.

Core inflation, which excludes energy and unprocessed food, grew 0.6% year over year.

In nonharmonized terms, the consumer price index rose 0.4% in August, lower than the Econoday consensus estimate of a 0.5% rise, both in annual and monthly terms.