FX.co ★ Italy Inflation Rises More Than Estimated

Italy's consumer price inflation increased more than expected in May, preliminary estimates from the statistical office Istat showed on Tuesday.

Consumer prices increased 6.9 percent yearly in May, following a 6.0 percent rise in March. Economists had forecast a rise of 6.2 percent.

On a month-on-month basis, consumer prices rose 0.9 percent in May.

The core inflation rose to 3.3 percent in May from 2.4 percent in the previous month.

Inflation, based on the harmonized index of consumer prices, climbed to 7.3 percent in May from 6.3 percent in the previous month.

The HICP rose 0.9 percent monthly in May.