Italy May preliminary CPI +0.1% vs +0.2% m/m expected

Latest data released by Istat - 31 May 2019

• Prior +0.2%
• CPI +0.9% vs +1.0% y/y expected
• Prior +1.1%

• HICP +0.1% vs +0.2% m/m expected
• Prior +0.6%; revised to +0.5%
• HICP +0.9% vs +0.9% y/y expected
• Prior +1.1%

Slight softening in inflationary pressures after the mild boost higher in April for Italy. Once again, it's reflective of an Easter seasonality boost seen in the last month and things are returning back to "normal" now. We'll have to wait on June readings to get a better sense of where inflation is headed towards.