Italy Inflation


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.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.2% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, panelists expect inflation to average 0.7%.

Author:, Economist

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Italy Inflation Chart

Italy Inflation March 2015 1

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).

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