Italy Inflation April 2020

Italy

Italy: Inflation at over three-year low in April on falling energy prices

May 15, 2020

Consumer prices rose 0.1% from the previous month in April, matching the 0.1% rise logged in March. Looking at the details of the release, prices for food and non-alcoholic beverages increased notably in April, more than offsetting lower prices for utilities, fuels and transport. Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, jumped 0.6% from the previous month in April, following March’s softer 0.3% increase.

Consumer prices in annual terms were virtually unchanged in April, following March's 0.1% inflation reading. April's figure marked the lowest print since October 2016. Meanwhile, the trend was unchanged with annual average inflation coming in at March's 0.4% in April. Lastly, core inflation was also stable at March’s 0.7% in April.

FocusEconomics panelists also expect harmonized prices to dip, on average, 0.1% in 2020, which is down 0.2 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 0.8%.


Author: Massimo Bassetti, Senior Economist

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Italy Inflation April 20 20 0

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


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