Italy’s consumer price index (CPI) saw a minor decrease in its month-over-month growth rate for July 2024. Recently released data on August 9, 2024, revealed that the CPI rose 0.4% in July, a modest dip from the 0.5% increase recorded in June.This slight reduction in the inflation rate suggests that consumer prices are stabilizing slightly, albeit still rising month-over-month. The previous month’s data saw a 0.5% rise from May to June 2024. This indicates a continuing, though slightly slowing upward trend in consumer prices.The updated numbers come amidst a challenging economic climate within Italy, as policymakers and economists keep a close watch on inflationary trends. The month-over-month comparison offers a snapshot of how the prices of consumer goods and services are evolving on a near-term basis, providing crucial insights for economic planning and decision-making.The material has been provided by InstaForex Company – www.instaforex.com
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