Italian national statistics bureau Istat reported Tuesday that the year-on-year inflation rate in July fell back to its May rate of 1.6 percent, after climbing to 1. 7 percent last month.
Based on preliminary data, Istat said the increase in the consumer price index for the month was 0.2 percent.
Istat's definitive inflation report is expected in two weeks' time.
Italian Industry Minister Pierluigi Bersani defined the Istat's data as "encouraging," saying this was in part thanks to his campaign to deregulate sectors of the Italian economy.
"It is clear that the positive contributions from those sectors which have been subject to liberalization have offset the price hikes related to our energy bill," the minister added.
Italian Adusbef and Federconsumatori consumer watchdogs said July's drop in inflation "would be great news were it true."
Source: Xinhua
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