Italy: Inflation stable in March
March 30, 2012
According to a preliminary estimate released by ISTAT on 30 March, consumer prices added 0.5% over the previous month in March, which was above both the 0.4% increase recorded in February and market expectations of 0.3% rise. Despite the monthly increase, annual inflation was unchanged at February's 3.3%. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.3% over the previous month. Meanwhile, annual core inflation inched up from 2.2% in February to 2.3% in March. Finally, annual average HICP inflation edged up from 3.0% in February to 3.1% in March. The Bank of Italy currently expects HICP inflation to average 3.1% this year, before dropping to 2.4% next year.
Author: Armando Ciccarelli, Head of Data Solutions