Inflation in May fell, as – according to ELSTAT data – it stood at 2.4% from 4.1% in May 2023.

The Harmonized Index of Consumer Prices in May, compared to April 2024, showed a decrease of 0.3% against an increase of 0.5% recorded
in the corresponding comparison of the previous year.

In the twelve-month period June 2023 – May 2024, inflation showed an increase of 3.1% compared to an increase of 8.2% recorded during the corresponding comparison of the twelve-month period June 2022 – May 2023 with the twelve-month period June 2021 – May 2022.

According to ELSTAT, the reduction of the General CPI by 0.3% in the month of May 2024, compared to the corresponding Index of April 2024, came from
mainly from changes in the following groups of goods and services:

Of the reductions in indicators by:

  • 0.5% in the group Food and non-alcoholic beverages, mainly due to a decrease in prices in: pork, fresh whole milk, fresh fruit, fresh vegetables. Part of this decrease was offset by price increases mainly in: bread and cereals, poultry, fresh fish, yogurt
  • 0.3% in the group Alcoholic beverages and tobacco, mainly due to a decrease in prices of alcoholic beverages (not served).
  • 0.6% in the Housing group, mainly due to a decrease in electricity prices. Part of this decrease was offset by the increase in prices mainly in: house rents, natural gas.
  • 0.4% in the group Durable goods-Household goods and services, mainly due to a decrease in prices of goods of immediate household consumption.
  • 0.4% in the Transportation group, mainly due to a decrease in fuel and lubricant prices. Part of this decrease was offset by an increase in prices mainly for air passenger tickets.
  • 0.8% in the group Other goods and services, mainly due to a decrease in prices in other items of personal care

Of the increases in indicators by:

  • 0.8% in the Clothing and Footwear group, due to price increases in clothing and footwear.
  • 0.2% in the Hotels-Cafes-Restaurants group, mainly due to price increases in restaurants-patisseries-cafes-canteens