Inflation drops further, down to 6% in July in Italy

Italy's annual inflation rate stayed on a downward trend this month, falling to 6%, down from 6.4% in June, according to provisional data released by Istat on Monday, Azernews reports, citing ANSA.

The drop took the inflation rate back down to the same level as April 2022.

The national statistics agency said its consumer price index was up by 0.1% in July 2023 in month-on-month terms. Driven by soaring energy prices after Russia's invasion of Ukraine, inflation peaked at 11.8% in October and November 2022.

Istat said its "trolley" index of goods such as food and personal and household products came in at 10.4% in year-on-year terms in July, down from 10.5% in June.