Italy Inflation January 2020


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.

FocusEconomics panelists expect harmonized inflation to average 0.6% in 2021, which is down 0.2 percentage points from the previous month’s projection. For 2022, panelists expect harmonized inflation to average 1.0%.

Author: Massimo Bassetti, Senior Economist

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Italy Inflation Chart

Italy Inflation January 2021 1

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

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