Italy Inflation January 2017


Italy: Inflation in January hits highest rate since August 2013

February 22, 2017

According to revised data released by the National Statistical Institute (Istat), consumer prices grew 0.3% from the previous month in January (previously reported: +0.2% month-on-month), 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 1.0% in January (previously reported: +0.9% year-on-year), the highest reading since August 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 1.0% (previously reported: 0.7% year-on-year), 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 Chart

Italy Inflation January 2017 0

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

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