Italy: Inflation rises in April
April 30, 2014
According to preliminary data for April, consumer prices rose 0.2% over the previous month. The rise followed the 0.1% increase recorded in March and was driven by higher prices for transport and recreation. Annual inflation rose from 0.4% in March to 0.6% in April, which slightly overshot the 0.5% the market had expected.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.4% over the previous month, which was up from the 0.2% rise tallied in March. Annual core inflation edged up from 0.9% in March to 1.1% in April. Finally, annual average HICP inflation eased to 0.8% in April, which was just below the 0.9% tallied in March.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2014, which is unchanged from the previous month's projection. For 2015, panelists expect inflation to average 1.3%.
Author: Dirina Mançellari, Senior Economist