Italy: Harmonized inflation declines to lowest level since May 2022 in March
Harmonized inflation came in at 8.0% in March, which was down from February’s 9.9%. March’s figure represented the weakest inflation rate since May 2022. Looking at the details of the release, the change in prices for food and non-alcoholic beverages increased at a weaker rate in March. Prices for transportation grew at a more moderate pace. Meanwhile, housing and utilities price growth softened.
Annual average harmonized inflation ticked up to 9.6% in March (February: 9.5%). Meanwhile, consumer price inflation fell to 7.6% in March, from February’s 9.1%.
Lastly, harmonized consumer prices rose 0.77% in March over the previous month, picking up from the 0.07% rise logged in February. March’s figure was the sharpest increase in prices since October 2022.