Italian inflation is confirmed in May: prices rise by 0.8%. Codacons: “Holidays are becoming more expensive”

MILAN – Istat confirms the preliminary estimates released at the beginning of the month and reports the stationarity of inflation for the month of May: consumer prices rose by 0.8% on an annual basis, as in April. The monthly variation instead accelerates to 0.2%. The preliminary estimate of the Ipca index – the one harmonized at European level – has also been confirmed, increasing by 0.2% on a monthly basis and by 0.8 on an annual basis.

“The stabilization of the growth rate is mainly due to the easing of tensions on the prices of processed food goods (+1.8% from +2.5% in April) and some types of services (of transport and housing related)”, explains the Institute, “whose effects compensate for the weakening of the deflationary pressures coming from the energy sector, where prices show a sharply rising trend profile, although remaining at largely negative values ​​(-11.6% from -12 ,1%)”.

“Underlying inflation”, net of energy and fresh food, decelerates, as does that net of energy goods alone (both from +2.1% to +2.0%). While the inflation acquired for 2024 is equal to +0.8% for the general index and +1.8% for the underlying component.

Even if you look at the prices of food, for home and personal care, that is the so-called “shopping cart”there is a slowdown on a trend basis from +2.3% in April to +1.8% in May as well as those of high purchase frequency products which go from +2.6% in April to +2.5 % of May.

If the grip of inflation loosens, it still risks not being enough of a relief for consumers. In fact, the National Consumers Union notes that “despite the fact that prices are now lunar” in just one month the price lists still rise “by 0.2%, double compared to April. The worst news is that food products and non-alcoholic drinks, i.e. compulsory expenses by definition, which a month ago had recorded zero economic change, now not only start to grow again but fly by 0.5% in just one month”. Translating the +0.8% per year into nutshells, the UNC says that for a couple with two children “it means, despite the savings on housing and electricity equal to 438 euros, an increase in the cost of living equal to 76 euros on a per year, even if 161 euros are only needed to cover the 2% price increases for food products and non-alcoholic drinks”.

Codacons instead highlights among the critical issues the fact that prices more typically linked to holidays are overheating “with rates rising significantly compared to last year”. Here is the detail: “I trains they increased by +8.1% compared to last year, buses and coaches of +4%, the diesel costs 4.9% more, +3.8% the gasto which is added an average increase of +2.7% for i parking lots and +1.9% for i toll. THE holiday packages represent the item with the heaviest increases, even +20.4% compared to the same period of 2023″. Among the few positive voices, they are airline tickets are decreasing.