Italy: Inflation falls in January on cooling energy prices
February 21, 2019
According to a second release published by the National Statistical Institute (ISTAT) on 21 February, consumer prices rose 0.1% over the previous month in January, contrasting December’s 0.1% month-on-month decline. The figure reflected higher prices for food and non-alcoholic beverages, as well as for housing, water, electricity, gas and other fuels, which more than offset lower prices for non-regulated energy products, and for clothing and footwear. Meanwhile, inflation came in at 0.9% in January, below December’s 1.1% print, and the lowest print since April 2018.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, remained unchanged from the previous month in January, following December’s 0.2% increase. Meanwhile, core inflation inched down to 0.5% in January from December’s 0.6%, and harmonized inflation decreased to 0.9% from December’s 1.2%.
Italy Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation of 1.5% in 2019, which is unchanged from last month’s projection. For 2020, panelists expect inflation to average 1.7%.