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Italy annual inflation revised down in May

Italian inflation rose to an annual 1.0% in EU-harmonized terms in May, down from a flash estimate of 1.1%, according to final data from the National Institute of Statistics.

May's reading was higher than the 0.6% rate recorded in April.

Month over month, harmonized inflation was revised down to 0.3% from a prior estimate of 0.4%.

Core harmonized inflation, which excludes energy and unprocessed food, rose to 0.8% in May, down from a flash estimate of 0.9% but up from April's final reading of 0.5%.