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Italy HICP inflation 5.54% y-o-y (consensus 5.6%) in Aug-23

- Italy's HICP inflation rate declined to 5.54% year-on-year in August 2023, the lowest growth since January 2022.
- Despite the decrease, inflation remains relatively elevated, standing 2.89 percentage points above the long run average.

Italy unemployment rate 7.36% (consensus 7.7) in Jun-23

- Italy's unemployment rate in June 2023 was 7.36%, surpassing market consensus and reaching the lowest level since January 2009.
- The rate is 0.46 percentage points below the one-year average and 2.10 percentage points below the long-run average, indicating a positive trend in the labor market.

Italy HICP inflation 6.38% y-o-y (consensus 6.4%) in Jul-23

- Italy's HICP inflation for July 2023 registered a year-on-year growth of 6.38%, marking a decline from the previous month and the lowest observed since April 2022.
- The current inflation rate is 3.14 percentage points below the one-year average and 3.74 percentage points above the long-run average, suggesting a recent moderation in price pressures but still an elevated level of price increases.

Italy GDP growth -0.3% q-o-q (consensus 0.0) in Q2-23

- Italy's GDP growth contracted by 0.3% in Q2-23, falling short of market expectations, marking the lowest growth rate since Q4-20.
- The Q2-23 GDP growth rate was 0.45 percentage points below the one-year average and 0.46 percentage points below the long-run average, indicating a notable weakening of Italy's economic performance in this period.