Italy Inflation January 2020


Italy: Inflation stable in January

February 21, 2020

Consumer prices rose a revised 0.1% month-on-month in January (previously reported: +0.2% month-on-month), following December’s 0.2% increase, according to revised data released by the National Statistical Institute (ISTAT) on 21 February. The figure mainly reflected higher prices for food and non-alcoholic beverages and alcoholic beverages and tobacco, which more than offset lower prices for regulated energy products and for recreation and culture—influenced by seasonal factors. Meanwhile, inflation came in at a revised 0.5% in January (previously reported: 0.6%), matching the previous month’s print.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.2% from the previous month in January, up from December’s 0.1% uptick. Meanwhile, core inflation accelerated from December’s 0.6% to 0.8%, while harmonized inflation inched down from December’s 0.5% to 0.4% in January.

FocusEconomics panelists also expect harmonized inflation to average 0.9% in 2020, which is down 0.1 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 1.2%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation January 20 20

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

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