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Italian Flash Annual Inflation Rate Climbs to 3.2% in May

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Italy's annual inflation rate increased to 3.2% in May from 2.7% in April, provisional data from statistics agency Istat showed Friday.

The consensus estimate for the month was 3.2%.

On a monthly basis, consumer prices rose 0.4%, compared with the market forecast of a 0.1% increase and the prior 1.1% gain.

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

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