Italy continues to experience deflationary pressures as the Harmonized Index of Consumer Prices (HICP) dropped to -0.9% in July 2024, according to data updated on August 9, 2024. This marks a slight decline from the -0.8% recorded in the previous month, indicating a further dip in consumer price levels.The year-over-year comparison reveals that the HICP indicator for July this year slid deeper into negative territory. Businesses and consumers alike are grappling with the impact as Italy faces continued economic challenges. The data, evaluated on a month-over-month basis, reiterates the contrasting change between July’s -0.9% and June’s -0.8%, showing an exacerbation in price deflation.This persistent deflation signifies ongoing struggles for Italy amidst broader economic uncertainties. Policymakers and market observers will be closely watching the upcoming months to gauge potential recovery measures and their effectiveness in reversing the deflationary trend.The material has been provided by InstaForex Company – www.instaforex.com
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