Italy: Consumer prices mark third consecutive year-on-year drop in March
April 14, 2015
Consumer prices rose 0.1% in March over the previous month, mirroring the preliminary estimate released by the National Statistical Institute on 31 March. March’s print came in below the 0.4% increase tallied in February and was in line with market expectations. The mild increase mainly reflected higher prices for energy products, which were partially offset by a decline in the price of services related to transport. In annual terms, consumer prices dropped 0.1% in March, which mirrored February’s reading.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, posted a flat reading over the previous month in March. This came in below the 0.3% rise recorded in February. Annual core inflation eased from February’s 0.6% to 0.4%. Finally, annual harmonized consumer prices recorded flat growth in March, which was down from the 0.1% rise observed in February.
Author: Cecilia Simkievich, Economist