Italy's Harmonized CPI Holds Steady at 2.9% in July

Italy's harmonized consumer price index held steady at 2.9% year-on-year in July, matching forecasts and unchanged from June.

The monthly HICP fell by 0.4%, reflecting seasonal sales and temporary price reductions, while core inflation remained stable.

This reading is slightly above the eurozone average of 2.6%, according to Eurostat data.

The steady inflation rate may ease pressure for aggressive policy tightening from the European Central Bank (ECB), but it still means continued cost-of-living pressures for consumers.