Italy: Inflation ticks down in January
According to provisional data released by the National Statistical Institute (Istat) on 2 February, consumer prices rose 0.2% on a monthly basis in January, down from December’s 0.4% increase. The figure mainly reflected higher prices energy products and processed food, which more than offset lower prices for services related to transport. Meanwhile, inflation came in at 0.8% in January, marginally below the previous month’s 0.9% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.1% in January month-on-month, following December’s stronger 0.3% rise. However, core inflation was 0.6% in January, up from December’s 0.4%. Finally, harmonized inflation came in at 1.1%, marginally above December’s 1.0%.