Final data released by the Italian National Institute of Statistics today showed a slight decline in the inflation rate in June from the highest level in 32 months in May.

Annual inflation slowed to 3% in June from 3.2% in May, which was the highest rate since September 2023.

The statistics office said the decline was mainly driven by a slowdown in price increases for unprocessed food products, transport services, and cultural, personal care, and recreation services, according to the German news agency (dpa).

Inflation for unprocessed food products fell to 4.4% from 5.5%, while price growth for transport services slowed to 1.1% from 1.7%. In contrast, inflation for regulated energy products accelerated to 9.2% from 5.6%, while inflation for unregulated energy prices rose to 13.3% from 12.5%.

Core inflation, which excludes energy and unprocessed food products, fell to 1.6% from 1.7%.

On a monthly basis, consumer prices remained unchanged after a 0.4% increase in May.

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