Italy: Inflation rebounds in April
May 15, 2017
According to revised data released by the National Statistical Institute (Istat), consumer prices rose 0.4% on a monthly basis in April (previously reported: 0.3% month-on-month), up from March’s flat reading. The figure mainly reflected higher prices for services related to transport and recreation, whose increase was fueled by Easter and Liberation day, celebrated on 16 and 25 April respectively. Meanwhile, inflation came in at a revised over four-year high of 1.9% in April (previously reported: 1.8%), accelerating from March’s 1.4% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.6% in April on a monthly basis, up from March’s 0.2% increase. Core inflation was 1.1% in April, above March’s 0.7% and marking the highest reading in over three years. Finally, harmonized inflation came in at 2.0%, up significantly from March’s 1.4%