Inflation drops to 7.7%, lowest level since May in Italy

ROME. KAZINFORM - Italy's annual inflation rate has dropped to 7.7% this month, down from 9.1% in February, according to provisional data released by ISTAT on Friday, Kazinform cites ANSA.

It is the lowest level since the annual inflation rate was 6.8% in May 2022.

«The slowdown of the annual inflation rate was mainly due to the prices of non-regulated energy products (from +40.8% to +18.9%) and to the more marked decline in those of regulated energy products (from -16.4% to -20.4%) and, to a lesser extent, by the contraction in the prices of processed food (from +15.5% to +15.3%), non-durable goods (from +7.0% to +6.8%) and services related to transport (from +6.4% to +6.3%),» the national statistics agency said.

ISTAT said its consumer-price index was down by 0.3% in month-on-month terms.

However, the agency's trolley index of frequently bought goods such as food and household items remained high, with a year-on-year rise of 12.7%.