Italy June preliminary CPI +0.3% vs +0.2% m/m expected

Latest data released by Istat - 28 June 2018

• Prior +0.3%
• CPI +1.4% vs +1.3% y/y expected
• Prior +1.0%

• HICP +0.3% vs +0.2% m/m expected
• Prior +0.3%
• HICP +1.5% vs +1.4% y/y expected
• Prior +1.0%

Better than expected inflation readings for Italy and a much improved one compared to what we saw in May. Spanish figures also had a similar showing earlier so that will at least be something to cheer about for the ECB.