Italy Inflation

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Italy: Fall in consumer prices eases in February

March 13, 2015

Consumer prices rose 0.4% in February, which contrasted the 0.4% drop tallied in the previous month and overshot the 0.1% rise that the markets had expected. According to the National Statistics Institute (Instat), February’s increase mainly reflected higher prices for food and beverages, tobacco, and, to a lesser extent, transportation services. In annual terms, consumer prices dropped 0.1% in February, which was slightly above the flash estimate of a 0.2% drop, and marked a significant improvement compared to the record-low 0.6% fall tallied in January.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.3% over the previous month in February. The print contrasted the 0.2% decline recorded in January. Annual core inflation rose from January’s 0.3% to 0.6% in February. Finally, annual harmonized consumer prices swung from a 0.5% decline in January to a 0.1% rise in February, which marked the highest reading in three months.

FocusEconomics Consensus Forecast panelists expect zero inflation in 2015, which is unchanged from the previous month’s projection. For 2016, panelists expect inflation to average 0.9%.


Author:, Economist

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Italy Inflation Chart


Italy Inflation February 2015 0

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


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