STORY: Italy's inflation rate remains among eurozone's lowest in June: ISTAT
SHOOTING TIME: July 17, 2024
DATELINE: July 18, 2024
LENGTH: 00:00:35
LOCATION: Rome
CATEGORY: ECONOMY

SHOTLIST:
1. various of gas stations in Rome
2. various of a fresh market in Rome
3. various of a supermarket in Rome

STORYLINE:

Prices in Italy rose a modest 0.8 percent in June compared to the same month a year earlier, according to finalized data from the government's statistics entity released Tuesday, meaning prices in Italy continued to rise less than in the European Union (EU) as a whole.

It was also the seventh time in eight months the year-on-year increase in prices in Italy was below 1.0 percent, according to ISTAT, Italy's National Statistics Institute. Prices in June were 0.1 percent above levels from a month earlier.

Prices in Europe and across the world spiked in 2022 due to higher energy costs stemming from the conflict between Russia and Ukraine. In the eurozone and Italy, they reached record highs in October and November 2022, before slowly declining since then, though the decrease in Italy has been more marked.

ISTAT said the main drivers behind the price trends in Italy in June were "an easing of tensions" on prices for unprocessed food, which saw prices rise just 0.3 percent compared to 2.2 percent previously, as well as for recreational, cultural, and health services, which rose by 4.0 percent compared to 4.3 percent previously.

On the other side of the equation, energy prices declined but at a slower rate than in May, falling by 8.6 percent compared to the same month a year earlier, compared to an 11.6-percent year-on-year decrease in May.

According to the preliminary data from Eurostat, Italy has the second lowest national inflation rate in the eurozone, with only Finland -- where prices climbed by 0.6 percent in June -- registering a lower rate.

Xinhua News Agency correspondents reporting from Rome.
(XHTV)