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Italy annual inflation rises in May

Italian inflation accelerated to an annual 1.1% in EU-harmonized terms in May from 0.6% in April, provisional data from the National Institute of Statistics showed.

Month over month, harmonized inflation rose to 0.4%.

Core harmonized inflation, which excludes energy and unprocessed food, rose to an annual 0.9% in May from a 0.5% annual rise a month ago. In monthly terms, core prices rose 0.2%.

Meanwhile, the unemployment rate came in at 11.2% in April, unchanged compared with March and the year-ago period, the institute said in a separate release.

The number of unemployed people rose 0.6% month over month to 2.912 million in April.

Employment rate edged up 0.1 percentage point to 58.4% last month.