Italy: Inflation in February hits highest rate in four years
March 15, 2017
According to revised data released by the National Statistical Institute (Istat), consumer prices grew a revised 0.4% from the previous month in February (previously reported: +0.3% month-on-month), up from January’s 0.3%. The figure mainly reflected higher prices for services related to transport, regulated and non-regulated energy products and unprocessed food. Inflation came in at a revised 1.6% in February (flash estimate: +1.5%), the highest reading since February 2013 and accelerating from January’s 1.0% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.1% in February on a monthly basis, contrasting January’s 0.1% decline. Core inflation was 0.6% in February, marginally up from January’s 0.5%. Finally, harmonized inflation came in at 1.6%, up from January’s 1.0% print and marking the highest reading in almost four years.