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Italian harmonized monthly inflation negative 1.9% in July, 1.2% annually

Italy's harmonized inflation in Italy was confirmed at negative 1.9% in July monthly terms and at 1.2% annually, final data from the National Institute of Statistics showed.

This compared with negative 0.2% monthly and 1.2% annually in June.

The sharp monthly decrease in harmonized consumer prices in July was mainly due to the beginning of the summer sales of clothing and footwear, the institute said.

In nonharmonized terms, July inflation was confirmed at 0.1% on a monthly basis and 1.1% annually, compared with negative 0.1% and 1.2%, respectively, the month before.

Price inflation of regulated energy products slowed to an annual 5.0% from 6.2% in June. Nonregulated energy prices rose by 2.1%, down 2.9% the previous month. Transport-related services' inflation also slowed to 3.2% after 4.1% in June.

Harmonized core inflation for July was 0.8%, down from 1.0% the previous month.