Italy: Inflation rises in April
May 13, 2014
According to more detailed data for April, consumer prices rose 0.2% over the previous month. The figure met the preliminary estimate and followed the 0.1% increase recorded in March. The figure 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. The figure, which marked the highest increase in eight months, 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-the highest rate since November 2013. Finally, annual average HICP inflation eased to 0.8% in April. The reading was just below the 0.9% tallied in March and marked the lowest rate since April 2010. FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2014, which is down 0.2 percentage points from the previous month's projection. For 2015, panelists expect inflation to average 1.2%.
Author: Dirina Mançellari, Senior Economist