在米兰，富时MIB指数周五下跌251点，跌幅0.59%。米兰Davide Campari（-2.19%）、意法半导体（-2.02%）和Azimut控股（-1.92%）领跌。涨幅最大的是MFE MediaForEurope（2.06%）、Leonardo SpA（0.80%）和Eni（0.41%）。

In Milan, the FTSE MIB Index decreased 251 points or 0.59 percent on Friday. Losses were driven by Davide Campari-Milano (-2.19%), STMicroelectronics (-2.02%) and Azimut Holding (-1.92%). Biggest rises came from MFE-MediaForEurope (2.06%), Leonardo SpA (0.80%) and Eni (0.41%).

周五，富时MIB指数下跌0.6%，收于42196点，投资者消化了意大利的通胀数据以及美国个人消费支出报告。欧盟四大经济体中的三个经济体的通货膨胀仍然受到抑制，尽管对欧洲央行将在9月份保持关键利率稳定的预期仍然存在。在意大利，由于能源通胀缓解但食品价格加速，统一消费者价格上涨1.7%，低于7月份。意大利国家统计局还证实，意大利第二季度国内生产总值收缩0.1%。在美国，核心个人消费支出年通胀率为2.9%，但预计美联储仍将在9月降息。普睿司曼（-2.3%）和意法半导体（-2.2%）领跌，莱昂纳多上涨1%

The FTSE MIB fell 0.6% to close at 42,196 on Friday as investors digested inflation data from Italy, alongside the US PCE report. Inflation remained subdued in three of the four largest EU economies, although expectations that the ECB will key rates steady in September remained. In Italy, harmonized consumer prices rose 1.7%, slower than in July, as energy inflation eased but food prices accelerated. ISTAT also confirmed that Italy’s GDP contracted 0.1% in Q2. In the US, the the core PCE annual inflation rate was at 2.9%, but the Fed is still expected to cut rates in September. Prysmian (-2.3%) and STMicroelectronics (-2.2%) led losses, while Leonardo gained 1%

随着投资者消化了欧元区主要经济体的新通胀数据，意大利10年期债券收益率微升至3.61%左右，与同行基本一致。8月份，欧元区最大国家的物价增长保持低迷：德国通胀率小幅上升，但徘徊在2%左右，西班牙通胀率保持稳定，法国通胀进一步放缓。在意大利，由于能源成本增速放缓，通货膨胀率从7月份的1.7%降至1.6%，低于预期。另一份报告显示，意大利经济在上一季度增长0.3%后，在2025年第二季度收缩了0.1%，与初步估计一致，也低于0.1%的增长预测。与此同时，欧洲央行的一项调查显示，7月份欧元区消费者通胀预期基本保持稳定，但仍略高于央行2%的目标。

Italy’s 10-year bond yield edged up to around 3.61%, broadly in line with peers, as investors digested fresh inflation data from major eurozone economies. Price growth across the bloc’s largest countries stayed subdued in August: German inflation inched up but hovered near 2%, Spain’s rate was steady, and France saw further easing. In Italy, inflation slowed to 1.6% from 1.7% in July, undershooting forecasts, as energy costs rose at a softer pace. A separate report showed Italy’s economy shrank 0.1% in Q2 2025, in line with the initial estimate and against forecasts of 0.1% growth, after expanding 0.3% in the prior quarter. Meanwhile, an ECB survey showed euro area consumer inflation expectations remained largely stable in July, though still slightly above the central bank’s 2% target.

据初步估计，意大利的年度消费者价格通胀率从上个月的1.7%降至2025年8月的1.6%，低于市场预期的1.7%，这是自5月以来的最低涨幅。与此同时，欧盟统一汇率也小幅下降0.1个百分点至1.7%，使欧元区的通胀压力有所缓解。受监管的能源商品（12.9%对7月份的17.1%）和通信服务（0.2%对0.5%）的通货膨胀有所缓解，而非受监管能源商品的消费者价格进一步下跌（-5.9%对-5.2%）。另一方面，非加工食品（5.6%对5.1%）和加工食品（3%对2.8%）以及文化和娱乐服务（2.9%对2.7%）的价格加速上涨。核心通胀率（不包括新鲜食品和能源）小幅上升至2.1%，而7月份为2%。与上月相比，意大利CPI上涨了0.1%。

The annual consumer price inflation in Italy inched lower to 1.6% in August of 2025 from 1.7% in the previous month, below market expectations of 1.7% to mark the softest increase since May, according to a preliminary estimate. In the meantime, the EU-harmonized rate also inched lower by 0.1 percentage point to 1.7%, contributing softer inflationary pressures in the Eurozone. Inflation eased for regulated energy goods (12.9% vs 17.1% in July) and communication services (0.2% vs 0.5%), while consumer prices fell further for non-regulated energy goods (-5.9% vs -5.2%). On the other hand, prices accelerated for non-processed (5.6% vs 5.1%) and processed (3% vs 2.8%) food and cultural and recreational services (2.9% vs 2.7%). Core inflation, which excludes fresh food and energy, inched higher to 2.1% vs 2% in July. From the previous month, the Italian CPI rose by 0.1%.