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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ITALY DATA
Italian May flash HICP inflation printed a tenth above consensus expectations on an annual basis at 0.8% Y/Y (vs 0.8% prior) and in-line on a monthly basis at 0.2% M/M (vs 0.5% prior).
- The May CPI readings were also 0.8% Y/Y and 0.2% M/M.
- Core HICP (excluding energy, food, alcohol and tobacco) moderated in May to 2.1% Y/Y (vs 2.2% prior), in contrast to the dynamics seen in the Eurozone-wide and German prints.
- Services (3.0% Y/Y vs 3.1% prior) and core goods (0.7% Y/Y vs 0.9% prior) both moderated in May.
- However, we note that recent survey evidence suggest that core goods disinflation is likely to stall in the coming months.
- Energy inflation likely remained a drag on the headline rate, printing at -11.8% Y/Y (vs -12.2% prior). Meanwhile, both processed and unprocessed food inflation also moderated in May.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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