Italy Inflation January 2017

Italy

Italy: Inflation hits highest rate since September 2013 in January

February 6, 2017

According to provisional data released by the National Statistical Institute (Istat), consumer prices grew 0.2% from the previous month in January, down from December’s 0.4% increase. The figure mainly reflected higher prices for services related to regulated energy products, non-regulated energy products and for unprocessed food. Inflation came in at 0.9% in January, the highest reading since September 2013, accelerating from December’s 0.5% reading.

Core consumer prices, which excludes more volatile categories such as unprocessed food and energy, declined 0.1% in January on a monthly basis, which contrasted December’s 0.3% increase. Core inflation was 0.5% in January, marginally down from December’s 0.6%. Finally, harmonized inflation came in at 0.7%, up from December’s 0.5% print and the highest reading in more than three years.

FocusEconomics Consensus Forecast panelists expect inflation of 1.0% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect inflation to average 1.2%.


Author: Massimo Bassetti, Economist

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Italy Inflation January 2017

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


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