Italy: Inflation resurfaces in January
February 19, 2021
Consumer prices jumped 0.68% month-on-month in January, following December’s 0.20% uptick and marking the sharpest increase since the series began in 1995. The figure mainly reflected higher prices for regulated and non-regulated energy products, durable goods and food including alcohol.
Meanwhile, inflation came in at 0.4%, contrasting December’s 0.2% year-on-year drop in prices and marking the highest reading in 12 months.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.4% from the previous month in January, following December’s 0.3% rise. Meanwhile, core inflation rose from 0.6% in December to 0.8% in January, while harmonized inflation came in at 0.7%, swinging from December’s 0.3% year-on-year drop.