Italy: Inflation falls in February
According to provisional data released by the National Statistical Institute (Istat) on 28 February, consumer prices rose 0.1% on a monthly basis in February, down from January’s 0.2% increase. The figure mainly reflected higher prices for transport, which more than offset lower prices for communication and food and non-alcoholic beverages. Meanwhile, inflation came in at 0.6% in February, below the previous month’s 0.9% print and the lowest reading in over one year.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.2% in February month-on-month, following January’s softer 0.1% rise. Consequently, core inflation was 0.7% in February, marginally up from January’s 0.6%. Finally, harmonized inflation came in at 0.7%, below January’s 1.2%.