Italy: Inflation falls in February
March 16, 2018
According to revised data released by the National Statistical Institute (Istat) on 16 March, consumer prices remained flat on a monthly basis in February (previously reported: +0.1% month-on-month), down from January’s 0.3% increase. The figure mainly reflected higher prices for transport, which more than offset lower prices for communication and food and non-alcoholic beverages. Meanwhile, inflation came in at 0.5% in February (previously reported: 0.6%), below the previous month’s 0.9% print and the lowest reading in over one year.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.1% in February month-on-month, matching January’s rise. Consequently, core inflation was 0.6% in February, also mirroring January’s print. Finally, harmonized inflation came in at 0.7%, below January’s 1.2%.
Italy Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation of 1.4% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect inflation to average 1.5%.