Italy: Inflation ticks up in February on higher food prices
February 28, 2019
According to revised data released by the National Statistical Institute (ISTAT) on 15 March, consumer prices rose a revised 0.1% month-on-month in February (previously reported: +0.2% month-on-month), matching January’s increase. The figure reflected higher prices for unprocessed food, tobacco and non-regulated energy products, which more than offset lower prices for services related to communication. Meanwhile, inflation came in at a revised 1.0% in February (previously reported: +1.1%), slightly above January’s 0.9% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, remained unchanged from the previous month in February, mirroring January’s flat reading. Meanwhile, core inflation inched down from January’s 0.5% to 0.4% in February—the lowest print in over one year—and harmonized inflation increased to 1.1% from January’s 0.9%.