Italy Inflation March 2020


Italy: Inflation at over 3-year low in March

April 1, 2020

Consumer prices inched up 0.1% month-on-month in March, contrasting February’s 0.1% dip, according to preliminary data released by the National Statistical Institute (ISTAT) on 1 April. The figure mainly reflected higher prices for food including alcohol and tobacco, which more than offset lower prices for non-regulated energy products. Meanwhile, inflation fell from 0.3% in February to an over 3-year low of 0.1% in March, mainly due to a downturn in prices of non-regulated energy products.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.3% from the previous month in March, contrasting February’s 0.1% decline. Meanwhile, core inflation accelerated was stable at February’s 0.7%, while harmonized inflation ticked down from 0.2% in February to 0.1% in March.

FocusEconomics panelists also expect harmonized inflation to average 0.6% in 2020, which is down 0.5 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 1.1%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation March 20 20

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

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