Italy Inflation Rate Revised Down to 0.8% in March

Consumer prices in Italy increased 0.8 percent year-on-year in March of 2018, slightly below market expectations and a preliminary estimate of 0.9 percent. In spite of the downwardly revision, consumer prices advanced at a faster pace compared to a 0.5 percent rise in February.
Istat | Stefanie Moya | 4/17/2018 8:49:48 AM
Year-on-year, prices of food and non-alcoholic beverages rebounded (0.5 percent from a -0.8 percent in February), mostly due to unprocessed food, which declined at a softer pace (-0.4 percent from -3.2 percent). Additionally, cost of transport rose further (1.8 percent from 1.7 percent), boosted by services related to transport (2.5 percent from 1.9 percent). Also, prices went up faster for restaurant and hotels (1.5 percent from 1.2 percent); miscellaneous goods and services (1.7 percent from 1.5 percent); clothing and footwear (0.3 percent from 0.2 percent) and alcoholic beverages and tobacco (2.3 percent from 1.2 percent). In addition, cost fell less for health (-0.2 percent from -0.3 percent) and communication (-1.8 percent from -2.1 percent). 

In contrast, prices slowed for housing and utilities (2.5 percent from 2.6 percent) and recreation and culture (0.6 percent from 1.1 percent). Also, inflation was steady for furnishings and household equipment (0.1 percent, the same as in February) and prices continued to drop for education (-16.2 percent, the same as in February).

On a monthly basis, consumer prices advanced 0.3 percent, below a preliminary figure of 0.4 percent and compared to a flat reading in February. 

Annual core inflation rate, which excludes energy and unprocessed food increased 0.7 percent, following a 0.6 percent gain in the prior month. Excluding only energy, the inflation rose to 0.5 percent compared to a preliminary estimate of 0.7 percent and a 0.2 percent rise in February.

The harmonised index of consumer prices went up 2.3 percent from the previous year and 0.9 percent from the previous month.

Italy Inflation Rate Revised Down to 0.8% in March