Consumer prices provisionally rose 0.4 percent on the month in May. This raised the annual inflation rate by some 0.6 percentage points versus its final April print to 1.1 percent, equalling its strongest reading since August 2017.
The flash HICP was also up a monthly 0.4 percent, boosting its yearly rate from 0.6 percent to 1.1 percent.
The acceleration in the annual CPI rate was largely attributable to unprocessed food (2.7 percent after 0.7 percent) and non-regulated energy (5.3 percent after 2.7 percent). Transport (1.7 percent after minus 0.7 percent) and tobacco (3.4 percent after 2.8 percent) also contributed. As a result, core inflation, which excludes energy and unprocessed food, climbed 0.3 percentage points to 0.8 percent and so just more than reversed April's 0.2 percentage point fall.
The bounce in Italian inflation this month is in keeping with the spikes seen elsewhere in the Eurozone and will similarly have been boosted by favourable base effects. Underlying trends remain essentially flat.