Italy: Inflation picks up in February
March 1, 2012
According to a preliminary estimate released by ISTAT on 1 March, consumer prices added 0.4% over the previous month, which was above both the 0.3% increase recorded in January and market expectations of 0.2% rise. As a result of the monthly increase, annual inflation inched up from 3.2% in January to 3.3% in February. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.2% over the previous month. Meanwhile, annual core inflation inched down from 2.3% in January to 2.2% in February. Finally, annual average HICP inflation edged up from 3.0% in January to 3.1% in February. 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