Italy Inflation Rate Revised Up to 0.9% in January

Consumer prices in Italy increased 0.9 percent year-on-year in January of 2018, slightly above the preliminary estimate of 0.8 percent, but at the same pace as in December. In spite of the upward revision, it is the lowest inflation rate since December of 2016, as prices slowed for transport and food.
Istat | Luisa Carvalho | 2/22/2018 11:59:40 AM
Year-on-year, cost slowed for: food & non-alcoholic beverages (1.3 percent vs 1.5 percent in December), namely unprocessed food (0.4 percent vs 2.4 percent); transport (1.6 percent vs 2.8 percent), especially services related to transport (1.3 percent vs 2.8 percent) and restaurants & hotels (1 percent vs 1.1 percent). 

On the other hand, prices rose faster for housing & utilities (3.1 percent vs 1.9 percent), due to a spike in cost of regulated energy products (6.4 percent vs 3.7 percent) while that for non-regulated energy products eased (2.5 percent vs 4.4 percent). In addition, prices advanced more for recreation & culture (1.2 percent vs 0.5 percent); miscellaneous goods and services (1.6 percent vs 0.6 percent) and alcoholic beverages and tobacco (1.3 percent vs 0.4 percent).

On a monthly basis, consumer prices went up 0.3 percent, slighlty above a preliminary estimate of a 0.4 percent gain and following a 0.4 percent increase in December.

Annual core inflation rate, which excludes energy and unprocessed food was 0.6 percent compared to 0.4 percent in December. Excluding only energy, the inflation stood at 0.6 percent.

The harmonized index declined 1.5 percent on the month (from 0.3 percent in December) and increased 1.2 percent on the year (from 1 percent in December).

Italy Inflation Rate Revised Up to 0.9% in January