Italy Inflation Rate Revised Up To 1% In January


Consumer prices in Italy rose 1 percent year-on-year in January of 2017 following 0.5 percent increase in the previous month and above preliminary estimates of 0.9 percent. It is the highest inflation rate since August of 2013, mainly boosted by cost of food and transport. On a monthly basis, consumer prices increased by 0.3 percent, above preliminary estimates of 0.2 percent.

Compared with January 2016, the biggest upward pressure came from food and non-alcoholic beverages (1.3 percent from 0.8 in December); transport (3.2 percent from 2.2 percent); restaurants and hotels (1.1 percent from 0.7 percent). Also, housing prices fell less (-0.5 percent from -1.8 percent in December).

Annual core inflation rate, which excludes energy and unprocessed food, declined to 0.5 percent from 0.6 percent the previous month. Excluding only energy, the inflation went up to 0.8 percent from 0.7 percent in December.

On a monthly basis, consumer prices increased by 0.3 percent, following a 0.4 percent rise in December, mainly due to the increase of prices of food (1.3 percent), housing (0.7 percent), restaurants and hotels (0.1 percent) and health (0.2 percent).

The harmonized index rose by 1 percent on the year and fell by 1.7 percent from the previous month. 

Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
2/22/2017 9:25:06 AM