Italy: Inflation eases to more-than-three year low
April 30, 2013
In April, consumer prices rose 0.1% over the previous month, which was a notch down from the 0.2% rise recorded in March. Higher prices for communication as well as for restaurants and hotels more than offset lower prices for housing as well as for recreation and culture. Despite the April increase, annual inflation dropped from 1.6% in March to 1.2% in April, which represents the lowest inflation rate since February 2010.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.3% over the previous month, which was up from a 0.2% rise in March. However, annual core inflation fell from 1.8% in March to 1.3% in April. Finally, annual HICP inflation averaged 2.7% in April, which was down from the 2.9% recorded in March.
FocusEconomics Consensus Forecast panellists expect inflation to average 2.1% in 2013, which is unchanged from the previous month's projection. For 2014, panellists expect inflation to average 1.8%.
Author: Armando Ciccarelli, Head of Data Solutions