Italy: Inflation at over 3-year low in March
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.