Italy’s Inflation at 14-Month Low Offers Limited Comfort to ECB

Report is first from region before data release on Friday
Price growth is too fast for ECB, which plans to raise rate

WATCH: “It is unlikely that in the near future the central bank will be able to state with full confidence that the peak rates have been reached,” Lagarde said on Tuesday.Source: Bloomberg

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By Alessandra Migliaccio

June 28, 2023 at 9:00 AM UTC

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Italy’s inflation rate dropped to a 14-month low in June, offering limited reassurance to the European Central Bank about weakening cost pressures before data for the region as a whole later this week.

Consumer prices rose 6.7% from a year earlier, considerably lower than May’s increase of 8%, according to a report from Italy’s statistics institute released on Wednesday. Slowing utility price gains and cheaper transport costs helped push the overall pace down.