Italy Inflation Rate Revised Down to 1% in February

Italy’s annual inflation rate increased to 1 percent in February of 2019 from a nine-month low of 0.9 percent in the previous month, below earlier estimates of 1.1 percent. Cost rose faster mainly for unprocessed and processed food, tobacco and non-regulated energy products.
Istat | Agna Gabriel | 3/15/2019 10:29:20 AM
Year-on-year, prices advanced faster for food and non-alcoholic beverages (1.7 percent from 0.7 percent in January), boosted by both unprocessed (3.7 percent from 1.7 percent) and processed food (0.5 percent from a flat reading); health (0.5 percent from 0.4 percent); and alcoholic beverages and tobacco (3.5 percent from 2.3 percent), namely tobacco (4.5 percent from 2.9 percent). On the other hand, cost slowed for transport (0.6 percent from 1 percent), as cost of services related to transport were lower (0.9 percent from 2.2 percent); restaurants and hotels (1 percent from 1.1 percent) and miscellaneous goods and services (1.7 percent from 1.8 percent).  

Meanwhile, inflation was steady for housing and utilities (3.8 percent, the same as in January), as a rise in non-regulated energy products (0.8 percent from 0.3 percent) was offset by lower regulated energy prices (7.8 percent from 7.9 percent); clothing and footwear (0.1 percent); furnishing and household equipment (0.2 percent) and education (0.1 percent).

Annual core inflation rate, which excludes energy and unprocessed food, decreased to 0.4 percent from 0.5 percent in January. Excluding only energy, the inflation accelerated to 0.7 percent from 0.6 percent in the prior month.

On a monthly basis, consumer prices went up 0.1 percent, the same as in January and lower than flash estimates of 0.2 percent.

The harmonized index of consumer prices advanced 1.1 percent from the previous year (from 0.9 percent in January); and fell 0.3 percent month-over-month (from -1.7 percent in January).

Italy Inflation Rate Revised Down to 1% in February