- Prior +7.6%
- HICP +6.7% vs +6.8% y/y expected
- Prior +8.0%
It would seem Italian inflation is easing further as we head towards the end of Q2 and that is encouraging for the ECB and the economy ahead of the other data this week. While it is still well above the 2% threshold, the fact that price pressures aren’t worsening too much is a slight comfort. Still, it doesn’t mean that policymakers can take their foot off the pedal for now.