Italy: Inflation stable in January
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.