Italy May preliminary CPI +0.4% vs +0.2% m/m expected

Latest data released by Istat - 31 May 2018

• Prior +0.1%
• CPI +1.1% vs +0.8% y/y expected
• Prior +0.5%

• HICP +0.4% vs +0.3% m/m expected
• Prior +0.5%
• HICP +1.1% vs +1.0% y/y expected
• Prior +0.6%

A beat across the board as Italy's inflation figures mirror that of Germany and France's - in the sense that they're all stronger this month relative to April. Part and parcel of what contributed to the beat in Eurozone figures as well.