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Italian Annual Inflation Rate Climbs to 3.2% in May, Final Data Confirms

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As expected, Italy's annual inflation rate increased to 3.2% in May from 2.7% in April, final data from statistics agency Istat showed Tuesday.

On a monthly basis, consumer prices rose 0.4%, in line with the preliminary reading and compared with the prior 1.1% gain.

The Italian harmonized inflation rate stood at 3.2% on an annual basis, against the flash figure of 3.3% and the previous reading of 2.8%. Month over month, harmonized consumer prices were 0.3% higher, against the prior 1.6% rise and the initial estimate of a 0.4% uptick.

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